The US four-week moving average of initial claims for unemployment insurance fell by 3,250 last week to a total of 272,500 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 Sept. 12 fell by 11,000 to a total of 264,000 from the previous week’s unrevised level. This marks the lowest since the period ended July 18.

No special factors affected this week’s initial claims.

Bloomberg reports claims matched the median forecast in its survey of 47 economists, which projected claims would hold at 275,000. Employers are holding back on dismissals as the economy forges ahead against the headwinds of slowing global markets, according to Bloomberg.

The decline “is more good news for the American consumer because it shows their confidence in labor market improvement is well-placed,” said Russell Price, senior economist at Ameriprise Financial Inc. in Detroit. Price is the second-best forecaster of claims over the past two years, according to data compiled by Bloomberg. “Despite all the noise in the economy today, we are continuing to make good progress on the employment front.”