Initial jobless claims fell -1k to 224k last week, basically in line with expectations of 225k.

• Not seasonally adjusted jobless claims were down -8.5k to just 199k.
• Continued claims fell -25k to 1.856 million, below expectations of 1.890 million.
• The insured unemployment rate was unchanged at 1.2%.
• Federal employee claims (UCFE) were down -245 to 821 as federal government layoffs have slowed.