Initial claims for the week ending July 6 decreased by 13,000 to 209,000 (Briefing.com consensus 222,000).

Continuing claims for the week ending June 29 jumped by 27,000 to 1.723 million.

The four-week moving average for initial claims decreased by 3,250 to 219,250.

The four-week moving average for continuing claims increased by 5,750 to 1,694,750.

Initial claims have held below 300,000 for 227 straight weeks.

The key takeaway from the report is that it continues to reflect a tight labor market where employers are reluctant to let go of employees.