U.S. Weekly Jobless Claims Fall To 221,000

- Initial weekly U.S. jobless claims fell by 8,000 to a seasonally adjusted 221,000 in the week to Saturday, the Labor Department reported Wednesday.

The data was relatively in line with expectations. Consensus expectations compiled by various news organizations had called for initial claims to be around 220,000. The government revised the prior week’s numbers of 227,000 claims up by 2,000, to 229,000 claims.

Meanwhile, the four-week moving average for new claims – often viewed as a more reliable measure of the labor market as it smoothens out week-to-week volatility – rose by 500 claims to 221,750.
Continuing jobless claims, the number of people already receiving benefits and reported with a one-week delay, decreased by 8,000 to a seasonally adjusted 1,686,000 during the week ending June 22, the government said.