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The four-week moving average of initial claims for unemployment insurance inched up by 250 to 352,000 in the week ended Jan. 26, according to seasonally adjusted numbers released today by the U.S. Department of Labor. The previous week’s reported average not revised.
The four-week moving average decreases the volatility of the weekly numbers. Total initial claims for unemployment insurance for the week were 368,000, up 38,000 from the previous week’s unrevised figure of 330,000.
Reuters reports the claims level is still consistent with employment growth despite the increase.