US: Initial Jobless Claims rose less than expected last week

• Initial Jobless Claims rose by 222K vs. the previous week.
• Continuing Jobless Claims increased by around 1.850M.

US citizens that applied for unemployment insurance benefits increased by 222K in the week ending July 6 according to the US Department of Labor (DoL) on Thursday. The prints came in below initial estimates (236K) and were lower than the previous weekly gain of 239K (revised from 238K).

In addition, Continuing Claims decreased by 4K to 1.852M in the week ended June 29.