In the week ending December 20, initial claims for unemployment insurance declined to 280,000, its lowest level in seven weeks and down from the previous week's unrevised level of 289,000. The four-week moving average, a less volatile gauge of underlying labor market conditions, declined to 290,000 from the previous week's unrevised average of 299,000. The four-week moving average of jobless claims has been below 300,000 for the past 15 weeks, continuing to reflect a strengthening labor market.
