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The four-week moving average of initial claims for unemployment insurance fell by 11,250 to a level of 356,750 in the week ended Dec. 22, according to seasonally adjusted numbers released today by the U.S. Department of Labor. The previous week’s reported average was revised upward to 368,000.
The four-week average decreases the volatility of the weekly numbers. Total initial claims for unemployment insurance for the week were 350,000, down 12,000 from the previous week’s revised figure of 362,000.
Marketwatch.com reports paperwork delays caused by holiday closures of government offices may have skewed this week’s data. Read the Marketwatch.com story here.