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The four-week moving average of seasonally adjusted initial jobless claims fell 4.9% to 525,750 in the week ended Jan. 3 from the previous week's revised average of 552,750, the U.S. Department of Labor reported today.
In addition, the advance figure for seasonally adjusted initial unemployment claims for the week ended Jan. 3 (not the four-week average) fell 4.9% to 467,000 from the previous week's revised figure of 491,000. This is the second week in a row that initial unemployment claims have declined.
Initial claims represent those people filing for unemployment benefits.