US initial jobless claims fell -2k to 227k last week, slightly below expectations of 270k.

• Not seasonally adjusted initial claims fell -3.6k to 202.1k, slightly ahead of 192.7k a year ago.
• Continued claims increased 36k to 1.903 million, slightly ahead of expectations of 1.890 million. The insured unemployment rate was unchanged at 1.2%.
• Federal employee claims (UCFE) increased 157 to 595, still elevated from a year ago (386).

• Last week, claims jumped 1.3k in Virginia due to layoffs in the manufacturing sector.