The U.S. four-week moving average of initial claims for unemployment insurance fell by 2,000 in the week ended May 10 to 323,250 from the previous week’s revised figure of 325,250, 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 24,000 to a total of 297,000 from the previous week’s upwardly revised figure of 321,000. This is the lowest level for initial claims since May 12, 2007, when they were 297,000, according to the Department of Labor.