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The U.S. four-week moving average of initial claims for unemployment insurance rose by 6,000 in the week ended Dec. 7 to 328,750 from the previous week’s revised figure of 322,750, according to seasonally adjusted numbers released today by the U.S. Department of Labor.
The four-week moving average decreases the volatility of the weekly numbers. Total initial claims for unemployment insurance for the week rose by 68,000 to 368,000 from the previous week’s revised figure of 300,000.
The Associated Press reports the surge is the largest increase in more than a year but likely reflects the difficulty adjusting for delays after the Thanksgiving holiday. To read the story, click here.