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US jobless claims average rises by 2,000, initial claims at six-week high

August 14, 2014

The U.S. four-week moving average of initial claims for unemployment insurance last week rose by 2,000 to a total of 295,750 from the previous week’s upwardly revised figure of 293,750, 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 ended Aug. 9 rose by 21,000 to a total of 311,000 from the previous week’s upwardly revised figure of 290,000.

Bloomberg reports the increase in initial claims is more than forecast and a six-week high. However, last week’s average is still below the 318,700 mean so far this year.