U.S. Weekly Jobless Claims Rebound More Than Expected

After reporting an unexpected drop in first-time claims for U.S. unemployment benefits in the previous week, the Labor Department released a report on Wednesday showing that initial jobless claims rebounded by more than expected in the week ended December 27th.

The Labor Department said initial jobless claims climbed to 298,000, an increase of 17,000 from the previous week's revised level of 281,000.

Economists had expected jobless claims to rise to 290,000 from the 280,000 originally reported for the previous week.

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