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US initial jobless claims fall to 222,000

Seasonally adjusted initial claims for U.S. unemployment benefits came in at 222,000 during the week ending June 2, down 1,000 from the previous week's revised level of 223,000, according to the U.S. Department of Labor.

Econoday had forecast weekly jobless claims of 225,000.

The four-week moving average rose by 2,750 to 225,500 from the previous week's revised average of 222,750.

The advance seasonally adjusted insured unemployment rate was unchanged at 1.2% for the week that ended May 26. Insured unemployment during that week rose 21,000 to 1,741,000 from the previous week's revised level of 1,720,000.