US DATA: Initial jobless claims -2k to 387k in June 16 employment
survey wk, just above expectations of 385k expectations, and following
an upward revision to the prev wk (now 389k vs 386k initially reported).
Claims +15k vs May 12 survey week (372k). Labor Dept analyst said
nothing unusual in the state level data. New Jersey didn’t submit data
when report was being created so its numbers were estimated. It has
since submitted its claims numbers, which labor analyst said “came in
close,” so estimate did not have a “meaningful” impact on the report.
Seasonal factors expected a drop in NSA claims of 3.9% (-14,700), actual
NSA claims fell by 4.5% or -17,032 to 359,578. 4-wk moving avg +3,500 to
386,250 in June 16 wk; highest since Dec’11. Continuing claims unchanged
in June 9 wk at 3.299 mln (lowest since May 19 week; 3.259 mln).