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U.S. Jobless Claims Rose to 380,000 Last Week

Financial News Network
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April 12, 2012 AT 8:48 PM
The largest gain in jobless claims since late January occurred last week according the U.S. Labor Department.Initial jobless claims jumped by 13,000 to 380,000 in the week ended April 7, more than what economists expected of just 359,000. Much of the increase was related to spring break, when many school bus drivers and cafeteria workers around the country are allowed to file claims in their states. However, claims were revised sharply higher from two weeks ago, up by 10,000 to 367,000. This is an unusually sharp adjustment, showing there could be a sliver lining when it comes to job growth in the U.S.The average of new claims over the past week rose as well, up 4,250 to 368,500. This is still relatively high, the highest in a month.