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The four-week moving average of initial claims for unemployment insurance inched up by 250 to 360,000 in the week ended Dec. 29, according to seasonally adjusted numbers released today by the U.S. Department of Labor. The previous week’s reported average was revised upward to 359,750.
The four-week moving average decreases the volatility of the weekly numbers. Total initial claims for unemployment insurance for the week were 372,000, up 10,000 from the previous week’s revised figure of 362,000. Bloomberg reported the number of initial claims rose more than forecast; economists it polled forecast 360,000 claims. For the story, click here.