Reuters (04/04/13) Lucia Mutikani
The number of people who applied for new unemployment benefits jumped 28,000 to a four-month high of 385,000 in the week ended March 30, the U.S. Department of Labor Department reported today, suggesting the labor market recovery lost some steam in March. The spike in claims adds to other recent reports suggesting that the pace of hiring in the U.S. has slowed. Meanwhile, the average of new claims in the last four weeks rose by 11,250 to 354,250 to mark a one-month high. Also, DOL said continuing claims decreased by 8,000 to a seasonally adjusted 3.06 million in the week ended March 23.