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The four-week moving average of initial claims for unemployment insurance fell by 2,250 to 350,500 in the week ended Feb. 2, according to seasonally adjusted numbers released today by the U.S. Department of Labor. The previous week’s reported average was revised to 352,750.
The four-week moving average decreases the volatility of the weekly numbers. Total initial claims for unemployment insurance for the week were 366,000, down 5,000 from the previous week’s revised figure of 371,000.