The Department of Labor reported today that weekly jobless claims jumped by 13,000 to 380,000 last week, the highest level in two and a half months.
Part of the jump is related to schools’ spring breaks, a period during which workers can apply for temporary benefits. However, claims from the prior week were also adjusted upward, to 367,000 from 357,000, a bigger change than most readjustments.
The average of new claims over the past four weeks is usually seen as a more accurate picture of employment trends, as it smoothes out temporary issues that can make a bigger week-to-week impact. That number increased by a smaller 4,250 to 368,500; yet that figure was still the highest in a month.
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