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Jobless claims average edges down, total claims fall 6,000

December 18, 2014

The US four-week moving average of initial claims for unemployment insurance last week edged down by 750 to a total of 298,750 from the previous week’s upwardly revised average of 299,500, 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 Dec. 13 fell by 6,000 to a total of 289,000 from the previous week’s upwardly revised figure of 294,000.

Bloomberg reports employers are curtailing dismissals and hiring at the strongest pace since 1999, a sign of a tightening labor market that may put upward pressure on wage growth.

No special factors impacted this week’s initial claims, according to the Department of Labor.