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The U.S. four-week moving average of initial claims for unemployment insurance fell by 7,500 in the week ended March 16 to a level of 339,750, according to seasonally adjusted numbers released today by the U.S. Department of Labor. The previous week’s reported average was revised to 347,250.
The four-week moving average decreases the volatility of the weekly numbers. Total initial claims for unemployment insurance for the week were 336,000, up 2,000 from the previous week’s revised figure of 334,000.
Bloomberg reports the increase in the weekly numbers is less than economists’ forecast. To read the story, click here.