US initial jobless claims dropped -8k to 210k in the week ending May 21, matched expectations. Four-week moving average of initial claims rose 7k to 207k.
Continuing claims rose 31k to 1346k in the week ending May 14. Four-week moving average of continuing claims dropped -14k to 1348k, lowest since January 17, 1970 when it was 1340k.
