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U.S. jobless claims fall 12,000

Christian Fernsby |
The number of Americans filing applications for unemployment benefits fell sharply last week.

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Topics: U.S.    JOBLESS CLAIMS   

Initial claims for state unemployment benefits dropped 12,000 to a seasonally adjusted 209,000 for the week ended Aug. 17, the Labor Department said on Thursday.

The four-week moving average of initial claims, considered a better measure of labor market trends as it irons out week-to-week volatility, edged up 500 to 214,500 last week.

The four-week average for new unemployment benefits claims was lower than the corresponding week in July, a positive signal for employment during the month.

Thursday’s claims report also showed the number of people receiving benefits after an initial week of aid fell 54,000 to 1.67 million for the week ended Aug. 10. The four-week moving average of the so-called continuing claims fell 750 to 1.70 million.

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