By Jason Lange – Several Wall Street economists believe the government is mismeasuring seasonal shifts in the labor market, and suggest the jobless rate’s sharp winter drop was partly an illusion.
If their research is on the mark, the unemployment rate could change little in the coming months as pay back, robbing the Obama campaign of what otherwise might have been steady progress in the lead up to the election.
“We think that the improvement over the last few months dramatically overstates the underlying improvement,” said Andrew Tilton, an economist at Goldman Sachs in New York.
“You will not see that rate of improvement going forward.” more> http://tinyurl.com/7pnmxw5
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