U.S. ECONOMICS: Initial Jobless Claims Improve Inline with Expectations
U.S. initial jobless claims dropped 6,000 to 312,000 in the week ended June 14 from a revised 318,000 previously (was 317,000). The data take on more importance since the week coincides with the Bureau of Labor Statistics employment survey. The 4-week moving average slid to 311,750 from 315,500 (revised from 315,250). Continuing claims declined 54.000 to 2,561,000 for the week ended June 7 versus 2.615 million previously (revised from 2.614 million). The data are a little better-than-expected and support expectations for another solid employment report.
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