Initial jobless claims increased 13,000 to 380,000 for the week ending April 7. This marks the highest level since January, and the second highest reading for 2012. Jobless Claims from the previous week were also revised up to 367,000, up from 357,000. The 4-week average for jobless claims increased 4,250 to 368,500. The 4-week average is considered a more accurate gauge on labor trends because it smoothes out weekly volatility.
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