US initial jobless claims dropped -20k to 385k in the week ending May 29, better than expectation of 410k. Four-week moving average of initial claims dropped -30.5k to 428k. Both figures were lowest since March 14, 2020.
Continuing claims rose 169k to 3771k in the week ending May 22. Four-week moving average of continuing claims rose 23k to 3688k.
