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The U.S. four-week moving average of initial claims for unemployment insurance rose by 10,750 in the week ended Oct. 19 to 348,250 from the previous week’s revised average of 337,500, 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 fell by 12,000 to 350,000 from the previous week's revised figure of 362,000.
ABC News reports weekly applications have been inflated for the past three weeks, largely because California has been processing a huge number of applications that were delayed because of a computer upgrade. To read the story, click here.