Initial Jobless Applications Edge Down

Washington, DC, March 1, 2012 -- Initial applications for unemployment benefits edged down last week, according to the Labor Department.

The government said on Thursday that initial claims fell by 2,000 to a seasonally adjusted 351,000 in the week ended Feb. 25. The level of claims is an indicator of whether layoffs are rising or falling.

Claims from two weeks ago were revised up to 353,000 from 351,000. Economists had estimated claims would fall to 350,000.

The four-week average of claims, meanwhile, dropped 5,500 to 354,000, keeping it at a four-year low.