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U.S. Weekly Jobless Claims Drop More Than Expected

First-time claims for U.S. unemployment benefits fell more than expected in the week ended February 16th, according to a report released by the Labor Department on Thursday.

The Labor Department said initial jobless claims dropped to 216,000, a decrease of 23,000 from the previous week's unrevised level of 239,000. Economists had expected jobless claims to dip to 229,000.

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