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Jobless claims average up 1,000, but total claims fall more than forecast

August 27, 2015

The US four-week moving average of initial claims for unemployment insurance rose by 1,000 last week to a total of 272,500 from the previous week’s unrevised average, 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 Aug. 22 fell by 6,000 to a total of 271,000 from the previous week’s unrevised level.

No special factors affected this week’s initial claims.

Bloomberg reports claims fell more than its median forecast of 50 economists, which called for 274,000 claims. Demand for skilled workers as the unemployment rate falls is convincing hiring managers to keep staffing levels consistent with sales, according to Bloomberg.

“Companies are concerned that if they let people go, even if they’re not their star employees, that it’ll be difficult to replace them,” Aaron Smith, senior economist at Moody’s Analytics Inc. in West Chester, Pennsylvania, told Bloomberg. “Wage pressures should be picking up, supporting the positive outlook for consumer spending.”