April 12 (Bloomberg) -- The number of Americans filing first-time claims for unemployment benefits unexpectedly rose last week, influenced by the Easter holiday and school spring recess.

Initial jobless claims rose by 19,000 in the week ended April 7 to 342,000, the highest in almost two months, the Labor Department said in Washington. The four-week moving average, a less volatile measure, rose to 323,250 from 316,250.

Holidays such as Easter occur in different weeks each year, making it difficult to adjust the data for seasonal variations, said a Labor Department spokesman. It may take a week or two for the underlying trend in firings to reemerge, economists said.

``The claims numbers tend to get volatile around this time of year, as they can't adjust for Easter and the turn of the quarter,'' said Stephen Stanley, chief economist at RBS Greenwich Capital in Greenwich, Connecticut. ``We expect claims will slip back down in the next couple of weeks. The labor market is pretty stable.''

Economists had forecast initial jobless claims would rise to 321,000 from 320,000 originally reported for the prior week, according to the median estimate in a Bloomberg News survey.

The number of people continuing to collect state unemployment benefits rose to 2.527 million in the week that ended March 31 from 2.489 million in the prior week.

The unemployment rate among people eligible for benefits, which tends to track the U.S. jobless rate, was unchanged at 1.9 percent. These data are reported with a one-week lag.

Twenty-one states and territories reported an increase in new claims, while 32 reported a decrease.

First-Time Claims

First-time claims averaged 319,000 a week last month, compared with an average of 313,000 in 2006, the lowest in six years.

Initial jobless claims, reported weekly, reflect firings and usually fall as job growth, which is reported monthly, increases. The two numbers together provide a picture of the state of the labor market.

Some economists say jobless claims will rise as economic growth slows. The International Monetary Fund yesterday cut its forecast for U.S. growth in 2007 to 2.2 percent, the slowest expansion in five years, citing the weakening housing market.

Mortgage lenders are among housing-related firms paring staff as a wave of defaults among subprime borrowers shakes the industry.

Fieldstone Investment Corp., which focuses on loans for single-family residences, is firing about 125 people as it closes nine retail offices and reduces wholesale operations centers to three from nine, the Columbia, Maryland-based company said on April 6.

`Changing Conditions'

NovaStar Financial Inc., a real estate investment trust whose stock has plunged more than 80 percent this year, plans to cut about 350 jobs, or 17 percent of its workforce. NovaStar said it is making the cuts because of ``changing conditions in the mortgage market.''

Still, the strength of the labor market has surprised economists. Employers added 180,000 jobs in March, more than forecast, following a 113,000 gain in February that was larger than previously estimated, the Labor Department said April 6. Hiring averaged 189,000 a month in 2006 compared with an average of 212,000 in 2005.

An index of online job recruitment in the U.S. rose to a record last month, led by gains in health-care and transportation, according to Monster Worldwide Inc. Monster's index of online help-wanted advertisements rose to the highest since the gauge's inception in October 2003.

`Modest Growth'

``We continue to see modest growth and stability in the labor market,'' Steve Pogorzelski, president of Monster International Worldwide, said in an interview.

Federal Reserve Chairman Ben S. Bernanke forecasts that the economy will grow at a ``moderate'' pace this year in the face of the housing slump and slower business spending.

``Growth in consumer spending would likely continue to be supported by gains in employment and incomes,'' Fed policy makers said at their March 20-21 meeting, according to minutes released yesterday. ``Anecdotal and statistical evidence suggested that labor markets remained relatively tight.''

Many industries as well as government agencies are hiring.

U.S. Customs and Border Protection is hosting a recruitment fair April 20 and 21 in Washington to fill over 500 positions, the agency said April 9.

CBP, an agency of the Department of Homeland Security responsible for securing the nation's borders, is recruiting for all levels, from entry level to supervisors and managers.

To contact the reporter on this story: Bob Willis in Washington bwillis@bloomberg.net

Last Updated: April 12, 2007 08:59 EDT