US initial jobless claims dropped -1k to 222k in the week ended June 2, below expectation of 225k. The four week moving average rose 2.75k to 225.5k.
Continuing claims dropped -6k to 1.72m in the week ended May 26. Four week moving average of continuing claims dropped -13.25k to 1.72875m, lowest since December 8, 1973.
