Jobless Applications Edge Up Last Week

Washington, DC, Aug. 16, 2012 -- Initial applications for unemployment benefits rose 2,000 to a seasonally adjusted 366,000 last week, according to the Labor Department.

As a result, the four-week average dropped to its lowest level since the week ended March 31.

Initial claims are down 26,000 from the peak of 392,000 in mid-June.

The four-week average dropped 5,500 to 363,750.