Analysts at Nomura note that US initial jobless claims ticked up 7k to 227k for the week ended 23 June, while the four-week moving average increased only 1k to 222k.
Key Quotes
“For the week ended 16 June, continuing claims declined 21k to 1705k. The continuing claims data align with the BLS survey week for the June employment report. Continuing claims now sit 37k below the last BLS survey week reading, indicating a possible pickup in the number of unemployed workers moving into employment. Overall, today’s initial claims data highlight continued labor market strength.”
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