U.S. jobless rate holds steady

(Feb. 23, 2012) -- The four-week moving average of initial claims, which better controls for weekly volatility, declined for a sixth consecutive week, falling to 359,000 from 366,000 the previous week. Continuing claims dropped 52,000 to 3,392,000 in the week ending Feb. 11 and built on an 82,000 drop the previous week.