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Jobless Claims Edge Lower as Fed Looks to Cool Labor Market

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Jobless claims totaled 250,000 for the week ended Aug. 13, down 2,000 from the previous week and below the 260,000 Dow Jones estimate.

Continuing claims, which run a week behind the headline number, totaled 1.437 million, an increase of 7,000.

In other economic news, the Philadelphia Fed reported that its monthly manufacturing survey for August rose to a reading of 6.2 Initial filings for unemployment benefits declined slightly last week though they were consistent with a drift higher in layoffs that began in the spring, theThe four-week moving average for claims, which helps smooth out weekly volatility, also fell by 2,750 to 246,750.Download NBC 5 Dallas-Fort Worth

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