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The U.S. four-week moving average of initial claims for unemployment insurance fell by 6,750 in the week ended Feb. 23 to a level of 355,000, according to seasonally adjusted numbers released today by the U.S. Department of Labor. The previous week’s reported average was revised to 361,750.
The four-week moving average decreases the volatility of the weekly numbers. Total initial claims for unemployment insurance for the week were 344,000, down 22,000 from the previous week’s revised figure of 366,000.