U.S. reported fewer initial jobless claims than expected last week

Initial jobless claims fell by 4,000 to a seasonally adjusted 222,000, below analysts’ expectations of 225,000.

The number of initial jobless claims exceeded 215,000, the weekly average in the U.S. prior to the outbreak of COVID-19.

At the same time, the U.S. Department of Labor reported that the number of Americans continuing to file for unemployment benefits rose from 13,000 to 1.51 million.