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U.S. initial jobless claims level off
Last Updated(Beijing Time):2012-04-19 23:53

The number of Americans initially applying for unemployment aid last week edged down after the previous week's data was revised up by 8,000, signaling the labor market recovery is slowing, the U.S. Labor Department reported Thursday.

The advance figure for seasonally adjusted initial claims for jobless benefits was 386,000 in the week ending April 14, a decrease of 2,000 from the previous week's revised figure.

The department revised up the previous week's data to show 8,000 more people applied for benefits than first estimated. Applications have begun to move higher in recent weeks after declining for months.

Economists believe that the upward trend in applications indicates that job growth is slowing, a negative sign for labor market recovery.

In addition, the four-week moving average, which helps smooth out week-to-week volatility, climbed by 5,500.

The advance figure for seasonally adjusted insured unemployment during the week ending April 7 was 3.297 million, up 26,000 from the prior week.

In March, U.S. businesses added only 120,000 jobs, half as many as in February and the fewest in five months. It indicated the job market had a long way to go before it fully recovered from the recession, and the current 8.2 percent unemployment is still painfully high.

Source:Xinhua 
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