US jobless claims rise but remain at historically low levels

By MATT OTT
AP Business Writer

U.S. applications for jobless benefits rose to their highest level in more than a year, but remain at relatively low levels despite efforts by the Federal Reserve to cool the economy and job market in its battle against inflation. Jobless claims in the U.S. for the week ending April 8 rose by 11,000 to 239,000 from the previous week, the Labor Department said Thursday. The four-week moving average of claims, which evens out some of the week-to-week fluctuations, rose by 2,250 to 240,000. Applications for unemployment benefits are broadly seen reflective of the number of layoffs in the U.S.