Initial claims for U.S. unemployment benefits fell slightly last week but remained higher than they have been in recent weeks, the government reported Thursday, reducing hopes of an acceleration in job creation this month after a slowdown in March. The Labor Department said jobless claims declined 2,000 last week to 386,000. The four-week moving average of new claims, considered a better gauge of labor-market trends, rose 5,500 to 374,750, the highest level in three months but 9 percent lower than the level from last September. The total number of people receiving regular state unemployment benefits rose 26,000 to 3.3 million last week. The number of Americans on emergency unemployment benefits fell 19,400 to 2.78 million. A total of 6.77 million people were receiving unemployment benefits, down nearly 188,000 from the previous week. Jobless claims have begun to level in recent weeks after months of steady declines. When applications consistently remain below 375,000, it suggests hiring will be strong enough to lower the unemployment rate, currently hovering near 8 percent. Hiring slowed in March after strong gains earlier this year. Employers added only 120,000 net jobs last month, half the pace of the previous three months.
