Initial Jobless Claims Edge Higher

Washington, DC, Aug. 12, 2010--Initial jobless claims rose 2,000 to 484,000 in the week ended Aug. 7, reaching the highest level since February, the Labor Department said.

Economists had expected a level of 463,000.

The four-week average of initial claims rose 14,250 to 473,500, also the highest level since February.

The four-week average of these continuing claims fell 64,500 to 4.52 million.