By Jeffry Bartash
WASHINGTON (MarketWatch) - Applications for U.S. jobless benefits were flat last week at a seasonally adjusted 374,000, the Labor Department said Thursday. Economists surveyed by MarketWatch had projected claims would fall to 370,000. Initial claims from two weeks ago were revised up to 374,000 from an original reading of 372,000, based on more complete data collected at the state level. The average of new claims over the past month, meanwhile, rose by 1,500 to 370,250. 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 decreased by 5,000 to a seasonally adjusted 3.32 million in the week ended Aug. 18. Continuing claims reflect the number of people already receiving benefits. About 5.53 million people received some kind of state or federal benefit in the week ended Aug. 11, down 62,253 from the prior week. Total claims are reported with a two-week lag.
