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The four-week moving average of initial claims for unemployment insurance rose by 9,500 to a level of 396,250 in the week ended Nov. 17, according to seasonally adjusted numbers released today by the U.S. Department of Labor. The previous week’s reported average was revised upward to 386,750.
The four-week average decreases the volatility of the weekly numbers. Total initial claims for unemployment insurance for the week were 410,000, down 41,000 from the previous week’s revised figure of 451,000.
Reuters reports that Hurricane Sandy is still distorting claims numbers. For the Reuters story, click here.