In the week ending November 29, initial claims for unemployment insurance declined to 297,000 from the previous week's upwardly revised level of 314,000. The four-week moving average, a less volatile gauge of underlying labor market conditions, rose to 299,000 from the previous week's upwardly revised level of just over 294,000. The four-week moving average of jobless claims has been below 300,000 for the past 12 weeks, which continues to reflect a strengthening labor market.
