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The four-week moving average of initial claims for unemployment insurance fell by 13,750 to a level of 367,750 in the week ended Dec. 15, according to seasonally adjusted numbers released today by the U.S. Department of Labor.
The four-week average decreases the volatility of the weekly numbers. Total initial claims for unemployment insurance for the week were 361,000, up 17,000 from the previous week’s revised figure of 344,000.
Bloomberg reports the increase, the first in five weeks, is a sign that further improvement in the labor market will depend on faster economic growth. Read the Bloomberg story here.