US initial jobless claims dropped -9k to 376k in the week ending June 5, slightly above expectation of 368k. Four-week moving average of initial claims dropped -25.5k to 402.5k. Both were the lowest level since March 14, 2020.
Continuing claims dropped -258k to 3499k in the week ending May 29, lowest since March 21, 2020. Four-week moving average of continuing claims dropped -35k to 3651k, lowest since March 28, 2020.