Washington, DC, August 17, 2006--Fewer Americans filed for unemployment benefits in the latest week even as the number of workers continuing to collect unemployment benefits hit a six-month high.
Initial jobless claims fell by 10,000 to 312,000 for the week ending Aug. 12, the Labor Department said Thursday. Economists surveyed by MarketWatch were expecting jobless claims to dip to 316,000.
The four-week moving average of new claims, however, rose by 1,750 to 311,250. Economists consider the four-week average a better indicator because it smoothes out distortions like weather and strikes.
The four-week moving average of continuing claims was 2.47 million, an increase of 2,250.
Initial claims for the week ending Aug. 5 were revised upward to 322,000 from 319,000.
Initial claims are running about the same as a year ago. In mid-August of last year, initial claims were at 320,000.
