Jobless Claims Slip by 9,000 to Maintain Levels Below 400,000

Source: US Department of Labor

US jobless claims fell by 9,000 to 376,000 for the week that ended on June 5. DXY is down 0.07%, SPY is up 0.65%, QQQ is up 0.98%

• The jobless claims are now at the lowest level since March 14, 2020. 
• On a 4-week moving average, jobless claims fell by 25,500 to hit 402,500. The claims were the lowest since March 14, 2020
• Continuing claims were 3.499 million for the week that ended May 29, down by 258,000. Continuous claims as a 4-week average were 3.651 million, down by 35,250.
• Unadjusted claims under state programs decreased by 13.7% to hit 367,117, better than expected decline of 11.7%
• Pennsylvania, Illinois, and Kentucky led by the biggest rises in initial claims
• Texas, Oregon, and Virginia had the largest falls in initial claims.