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The U.S. four-week moving average of initial claims for unemployment insurance fell by 6,750 in the week ended Nov. 16 to 338,500 from the previous week’s revised figure of 345,250, according to seasonally adjusted numbers released today by the U.S. Department of Labor.
The four-week moving average decreases the volatility of the weekly numbers. Total initial claims for unemployment insurance for the week fell by 21,000 to 323,000 from the previous week’s revised figure of 344,000.
Bloomberg reports the level of applications is the lowest since September, showing further healing in the labor market. To read the story, click here.