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Economist analyzes drop in Jobless Rate
Written by Bruce Ferrell   
Saturday, 06 October 2012 10:18

The Labor Department reported Friday that the jobless rate dropped to 7.8%, the lowest since 2009. But a local economist says we should take a closer look at the numbers.

PNC Bank economist Mikhail Tashoma says they're simply too good to be true.

 

"There is improvement and that was picked up in the survey, but when you look at the previous few months the rise in the household employment really was a give back for the drop in household employment in the prior two months."

Tashoma says there are positive signs,. The housing market is recovering and consumers are saving more and paying off debt.

Last Updated on Saturday, 06 October 2012 10:35
 
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