Jobless claims fall 3K to 229K

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• Initial Jobless Claims: -3K to 229K vs. 220K expected and 232K prior (revised from 229K).
• 4-week moving average of 218,500 rose from 215,750 in the previous week.
• The advance seasonally adjusted insured unemployment rate was 0.9% for the week ended June 4, unchanged from the previous week's unrevised rate.
• The advance number of actual initial claims under state programs, unadjusted, totaled 204,461 in the week ended June 11, an increase of 17,695 (or 9.5%) from the previous week. The seasonal factors had expected an increase of 19,953 (or 10.7%) from the prior week. And there were 407,798 initial claims in the comparable week in 2021.
• Continuing jobless claims of 1.549M vs. 1.701M consensus and 1.810M prior.