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US Initial Jobless Claims Decline in Week Ended June 13

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US initial jobless claims fell to a level of 226,000 in the employment survey week ended June 13 from an upwardly revised 230,000 level in the previous week, compared with expectations for a larger decrease to 225,000 in survey of analysts compiled by Bloomberg as of 7:30 am ET.

Initial claims were at a level of 210,000 in the employment survey week ended May 16.

The four-week moving average rose by 4,000 to 223,250 after increasing by 4,500 to a level of 219,250 in the previous week, a fourth straight increase.

Insured jobless claims jumped by 24,000 to 1,810,000 in the week ended June 6.

The weekly initial jobless claims data released by the US Labor Department measures filings for unemployment insurance benefits. Initial filings are reported through the previous Saturday, while those already on benefits are measured with a one-week lag.

A decrease in claims suggests a stronger labor market, a positive for the US economy and stocks, but a negative for bonds as it suggests wage growth that could lead to inflation.

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