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The U.S. four-week moving average of initial claims for unemployment insurance rose by 11,750 in the week ended Oct. 12 to a level of 336,500 from the previous week’s revised average of 324,750, 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 15,000 to a level of 358,000 from the previous week's revised figure of 373,000.
Bloomberg reports applications in California remained elevated and last week’s total also included some non-federal workers dismissed due to the gridlock in Washington. To read the story, click here.