While the four-week moving average of initial claims for unemployment insurance rose last week, the total number of claims fell. Bloomberg reports the total claims were impacted by Hurricane Sandy but the total number could rebound in the next few weeks.

Total initial claims for unemployment insurance for the week were 355,000, down 8,000 from the previous week's figure of 363,000, according to seasonally adjusted numbers released today by the U.S. Department of Labor.

The four-week moving average of initial claims for unemployment insurance rose by 3,250 to a level of 370,500 in the week ended Nov. 3.