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The U.S. four-week moving average of initial claims for unemployment insurance rose by 8,000 in the week ended Feb. 16 to a level of 360,750, according to seasonally adjusted numbers released today by the U.S. Department of Labor. The previous week’s reported average was revised to 352,750.
The four-week moving average decreases the volatility of the weekly numbers. Total initial claims for unemployment insurance for the week were 362,000, up 20,000 from the previous week’s revised figure of 342,000.
Reuters reports jobless claims rose more than expected but remain consistent with a steady improvement in labor market conditions. To read the story, click here.