To: tonto who wrote (129874 ) 4/12/2012 8:32:04 AM From: TideGlider 1 Recommendation Read Replies (1) | Respond to of 224858 DATA SNAP: US Jobless Claims +13K In April 7 Week Last update: 4/12/2012 8:30:00 AM By Andrew Ackerman and Eric Morath Of DOW JONES NEWSWIRES WASHINGTON -- New applications for jobless benefits rose sharply last week, another sign the labor market has appeared to lose momentum. Initial jobless claims increased by 13,000 to a seasonally adjusted 380,000 in the week ended April 7, the Labor Department said Thursday. It was the largest weekly rise in claims in nearly one year. Economists surveyed by Dow Jones Newswires predicted that 358,000 new claims would be filed last week. The prior week's level of claims was revised up to 367,000 from a previously reported 357,000. The four-week moving average of claims, which smoothes out week-to-week volatility, increased by 4,250 to 368,500, still near a four-year low. The level of weekly claims has trended down since last fall. That shows companies are laying off fewer workers and points to a general strengthening of the labor market. But job creation slowed considerably in March, as U.S. employers added 120,000 nonfarm jobs, half of what they added in February. The payrolls figures defied a string of recent reports showing a rebounding labor market. At the same time, the nation's unemployment rate dipped to 8.2% last month, its lowest in nearly three years. Yet many of its underlying components were weak-including a dwindling pool of Americans looking for employment. Thursday's report showed the number of continuing unemployment benefit claims--those drawn by workers for more than a week--decreased by 98,000 to 3,251,000 in the week ended March 31. Continuing claims are reported with a one-week lag. The unemployment rate for workers with unemployment insurance for the week ended March 31 was 2.6%, the same as the prior week. State-by-state data, also reported with a one-week lag, showed Oregon with the biggest increase in new claims--up 2,079. Claims declined the most in Texas, falling 1,633. The Labor Department report on jobless claims can be accessed at: dol.gov . --By Andrew Ackerman and Eric Morath; Dow Jones Newswires; 202-569-8390; andrew.ackerman@dowjones.com (END) Dow Jones Newswires April 12, 2012 08:30 ET (12:30 GMT)