--US new jobless claims +18,000 at 383,000 in latest week
--US new jobless claims level highest since July 1998
--US new jobless claims 4-week average +2,000 at 377,500
--US jobless claiming benefits -28,000 to 2.492 million
--US jobless benefits 4-week average +25,750 to 2,488,500
--US jobless benefits 4-week average highest since Jan 1997

By BridgeNews
Washington, April 5 (BridgeNews) - New claims for U.S. state unemployment insurance benefits jumped 18,000 to 383,000 during the week ended Saturday, the U.S. Labor Department said, well above the 364,000 median estimate of analysts surveyed by BridgeNews. The level also was the highest since the week ended July 4, 1998. The 4-week moving average rose 2,000 to 377,500. The 4-week average was only 250 below the March 17, which was the highest level in nearly 5 years.
* * * The estimates of analysts surveyed by BridgeNews put initial jobless claims for the latest week in a range of 354,000 to 370,000. For the week ended March 24, initial claims fell 17,000 to a seasonally adjusted 365,000, originally reported as 362,000, Labor said. For the same week, the 4-week moving average for new claims was 377,500, originally 374,750.
In new data for the week ended March 24, 2.492 million people were reported claiming unemployment benefits under regular state programs, down 28,000 from the previous week's revised 2.520 million, Labor said. However, the 4-week moving average for the week for continuing claims rose 25,750 to 2,488,500, which was the highest level since the week ended Jan. 11, 1997.
The seasonally adjusted rate of insured unemployment during the week ended March 24 held steady at 2.0 from the previous week. The ratio represents people claiming benefits as a percentage of the workforce potentially eligible for these benefits.
Data on continuing claims and the insured unemployment rate are reported with a one-week delay.