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US weekly initial jobless claims 277k vs. 270K est.

16 June 2016, 15:06

Sherif Hasan

4- week average 269.25 vs 269.5 last

The US weekly jobless claims came in at 277K vs 270k estimate. The 4-week moving average dipped slightly to 269.25K from 269.5K last week (lets call that unchanged). The continuing claims came in at 2157K vs 2140K est. The prior week was revised to 2112K vs 2095K.

Steady as she goes for that piece of data. The number does not really match up with the employment number for May, but remember these are initial unemployment claims. It does not tell you about hiring.