The U.S. four-week moving average of initial claims for unemployment insurance fell by 5,250 in the week ended July 13 to a level of 346,000 from the previous week’s revised average of 351,250, 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 24,000 to a total of 334,000 from the previous week’s revised figure of 358,000.