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Jobless claims average up 3,250, total claims hit eight-week high

September 03, 2015

The US four-week moving average of initial claims for unemployment insurance rose by 3,250 last week to a total of 275,500 from the previous week’s downwardly revised 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. 29 rose by 12,000 to a total of 282,000 from the previous week’s downwardly revised level.

No special factors affected this week’s initial claims.

Bloomberg reports claims rose more than the median forecast in its survey of economists, which called for 275,000 claims. Benefits rose to an eight-week high, representing a pause in a trend of more muted firings, according to Bloomberg.

“It does suggest that the labor market is pretty tight and that there aren’t a lot of people leaving their jobs involuntarily,” David Berson, chief economist at Nationwide Insurance in Columbus, Ohio, told Bloomberg before the report. “We’re already pretty close to historical lows, so it’ll be hard for it to go down further.”