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Jobless claims average rises, total claims at nine-month high

March 05, 2015

The US four-week moving average of initial claims for unemployment insurance last week rose by 10,250 to a total of 304,750 from the previous week’s unrevised average of 294,500, 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 Feb. 28 rose by 7,000 to a total of 320,000 from the previous week’s unrevised figure of 313,000.

Bloomberg reports the number of Americans filing for unemployment benefits rose last week to the highest level in more than nine months, a sign harsh winter weather may be stalling the job market’s progress. Claims exceeded the median forecast of 52 economists, which called for 295,000 claims.

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