The U.S. four-week moving average of initial claims for unemployment insurance fell by 7,000 in the week ended March 2 to a level of 348,750, according to seasonally adjusted numbers released today by the U.S. Department of Labor. The previous week’s reported average was revised to 355,750.

The four-week moving average decreases the volatility of the weekly numbers. Total initial claims for unemployment insurance for the week were 340,000, down 7,000 from the previous week’s revised figure of 347,000.