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Jobless claims average rises, total claims up 31,000

February 26, 2015

The US four-week moving average of initial claims for unemployment insurance last week rose by 11,500 to a total of 294,500 from the previous week’s downwardly revised average of 283,000, 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. 21 rose by 31,000 to a total of 313,000 from the previous week’s downwardly revised figure of 282,000.

Bloomberg reports the increase in total claims was the most since December 2013. Claims exceed its median forecast of 49 economists, which called for 290,000 claims.

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