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The four-week moving average of initial unemployment claims fell by 2,750 in the week ended July 28 to 365,500, according to seasonally adjusted numbers released today by the U.S. Department of Labor.
The four-week moving average reduces the volatility of the weekly numbers. Total initial claims for the week rose by 8,000 to a total of 365,000. Bloomberg reported jobless claims rose less than expected with economists forecasting 370,000 claims.