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Morici: 8.5 percent unemployment may be as good as it gets
Morici: 8.5 percent unemployment may be as good as it gets

The economy added 200,000 jobs in December, and unemployment rate fell to 8.5 percent. Going forward, unemployment is not likely to fall much further and may rise again. Fourth quarter growth was exceptionally strong as the global economy recovered from first half disruptions such as the earthquake in Japan, but going forward economists expect growth to slow to about 2 percent. Job growth in the range of 130,000 should be expected to accommodate labor force growth, but it won't do much to lower the unemployment rate. That is hardly a pace that will restore economic health or validate President Obama’s heavy intervention in the economy and industrial policies in the upcoming...

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