As U.S. heads into Labor Day weekend, initial jobless claims in the U.S. fall
for the third straight week.
The Department of Labor reported that initial filings for state jobless benefits
decreased by 10,000 to a seasonally adjusted 425,000 in the week ended Aug. 23.
The four-week seasonally adjusted moving average of new jobless claims -- a more
reliable indicator of the job market -- fell 6,000 to 440,250 in the past week.
It was the sixth straight week that the number was above 400,000, a level that
most experts agree indicates weakness in the job market.
Last year at this time, the figure for the four-week average stood at 324,750.
