U.S. ECONOMICS: Jobless Claims Wrap
U.S. initial jobless claims bounced 8,000 higher to 312,000 in the week ended May 31, correcting a bit after dropping 23,000 to 304,000 previously (revised from 300,000). That nudged the 4-week moving average to 310,250 from 312,500 (revised from 311,500). Claims not seasonally adjusted slid 12,000 to 262,900 from 275,400 previously (revised from 271,900). Continuing claims fell another 20,000 to 2,603,000 in the week ended May 24, after falling 25,000 to 2,623,000 previously (revised from 2,631,000). Data are fairly close to expectations and in front of tomorrow's key jobs report, won't have much market impact.
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