First-time applications for unemployment benefits rose slightly last week, the government reported Thursday, but the rate of applications submitted stayed at the low end of its recent range.
As a result, the four-week average dropped to its lowest level since the week ended March 31. This measure smooths out the data to minimize the effect of one-time changes due to weather, strikes or holidays. The number putting in initial claims for state unemployment benefits rose 2,000 to a seasonally adjusted 366,000 in the week ended Aug. 11.
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