US initial jobless claims rose by 4k to 229k in the week ending June 6, slightly above expectations of 225k. The underlying trend also moved higher. The four-week moving average of initial claims, which smooths out weekly volatility, increased by 4.25k to 219k.
Meanwhile, continuing claims rose by 24k to 1.795m in the week ending May 30, while the corresponding four-week average climbed to 1.7805m from 1.7758m previously.
Despite the latest increases, claims levels remain far below those typically associated with significant labor market deterioration.
