Initial unemployment claims were above in...>

US DATA: Initial unemployment claims were above expectations in the 

June 23 wk, +9k to 227k vs 220k expected, only slightly ahead of the 

recent range and still suggesting a tight labor market. Claims were 

unrevised at 218k in the June 16 wk.

- The 4-wk moving avg +1,000 to 222,000 in the June 23 wk. The avg 

would rise further next week if the headline figure does not change as 

the 222k level in June 2 wk rolls out, but will still be very low. 

- NSA claims +16,424 to 222,447 in the current wk, compared with the 

+7,865 that seasonal factors expected in the wk. The current wk's level 

is still below the year ago level of 239,635.

- Claims were estimated for Maine and Wyoming.

- Continuing claims -21k to 1.705m in the June 16 employment survey wk, 

-37k from the 1.742m level in the May 12 survey wk. The 4-wk avg -3,750 

to 1.720m, again the lowest since the Dec. 8, 1973 wk.