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The four-week moving average of initial claims for unemployment insurance fell by 27,000 to a level of 381,500 in the week ended Dec. 8, according to seasonally adjusted numbers released today by the U.S. Department of Labor. The previous week’s reported average was revised upward to 408,500.
The four-week average decreases the volatility of the weekly numbers. Total initial claims for unemployment insurance for the week were 343,000, down 29,000 from the previous week’s revised figure of 372,000.
Bloomberg reports the nine-week low in jobless claims adds to evidence the labor market is improving. Read the Bloomberg story here.