Initial claims for U.S. state unemployment benefits came in just under expectations in the June 29 week, falling 5,000 to 343,000, the Labor Department reported Wednesday.

Expectations for this week's report was for a claims level of 345,000, according to an MNI survey, which would have been a 1,000 drop from the initially reported 346,000 in the June 22 week. The prior week was revised up 2,000 to 348,000 according to the report.

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