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Jobless claims average down 6,500, total claims beat expectations

August 06, 2015

The US four-week moving average of initial claims for unemployment insurance fell by 6,500 last week to a total of 268,250 from the previous week’s unrevised average, according to seasonally adjusted numbers released today by the US Department of Labor.

The four-week moving average decreases the volatility of the weekly numbers. Total initial claims for unemployment insurance for the week ended Aug. 1 rose by 3,000 to a total of 270,000 from the previous week’s unrevised level.

No special factors affected this week’s initial claims.

Bloomberg reports claims rose less than its median forecast of 41 economists, which called for 272,000 claims. Since early March, claims have remained below the 300,000 level that economists say is typically consistent with an improving job market. This is the longest stretch since 1972, according to Bloomberg.

Claims are volatile during the summer when automakers usually shut assembly plants for annual retooling, Reuters reports. Some firms keep production lines running, which can throw off a model the government uses to smooth the data for seasonal variations.