U.S. Weekly Jobless Claims Edge Down To 229,000

(RTTNews) - A report released by the Labor Department on Thursday showed a modest decrease by first-time claims for U.S. unemployment benefits in the week ended August 23rd.

The Labor Department said initial jobless claims dipped to 229,000, a decrease of 5,000 from the previous week's revised level of 234,000.

Economists had expected jobless claims to slip to 230,000 from the 235,000 originally reported for the previous month.

Meanwhile, the report said the less volatile four-week moving average crept up to 228,500, an increase of 2,500 from the previous week's revised average of 226,000.