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The four-week moving average of initial claims for unemployment insurance fell by 6,750 to 359,250 in the week ended Jan. 12, according to seasonally adjusted numbers released today by the U.S. Department of Labor. The previous week’s reported average was revised to 366,000.
The four-week moving average decreases the volatility of the weekly numbers. Total initial claims for unemployment insurance for the week were 335,000, down 37,000 from the previous week’s revised figure of 372,000.
Bloomberg reports the numbers represent the lowest jobless claims level in five years. Read the Bloomberg story here.