Jobless claims fell for the second straight week, down -2k to 220k, slightly below 225k expected.

• The non-seasonally adjusted total dropped -13.2k to 212.8k.
• Total federal employees UCFE claims remained elevated at 1,580, only falling -54 from the week before.
• Continued claims fell -27k to 1.87 million, well below expectations of a total of 1.90 million.
• The insured unemployment rate remained at 1.2%, and the non-seasonally adjusted insured unemployment rate fell back to 1.4% after rising to 1.5% in the week before.