First-time unemployment benefit claims increased to 392,000 up from the previous week’s revised total of 385,000. The increase was smaller than analysts polled by Reuters had expected.
A year ago initial claims stood at 370,000, 6% lower than this week’s figures numbers.
The closely watched four-week moving average, considered a more accurate measure of the nation’ s unemployment picture because it smoothes out weekly fluctuations, fell by 25,250 to rest at 413,250, from the previous week’s revised total of 438,500.
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