MW:U.S. weekly jobless claims up slightly to 372,000
By Jeffry Bartash
WASHINGTON (MarketWatch) - Applications for U.S. jobless benefits rose by 4,000 to a seasonally adjusted 372,000 in the week ended Aug. 18, the Labor Department said Thursday. Economists surveyed by MarketWatch had projected claims would rise to 369,000. Initial claims from two weeks ago were revised up to 368,000 from an original reading of 366,000, based on more complete data collected at the state level. The average of new claims over the past month, meanwhile, climbed by 3,750 to 368,000. The four-week average reduces seasonal volatility in the weekly data and is seen as a more accurate barometer of labor-market trends. Also, Labor said continuing claims increased by 4,000 to a seasonally adjusted 3.32 million in the week ended Aug. 11. Continuing claims reflect the number of people already receiving benefits. About 5.59 million people received some kind of state or federal benefit in the week ended Aug. 4, down 109,812 from the prior week. Total claims are reported with a two-week lag.
