April 2 (Bloomberg) -- The biggest increase in employment in three years makes it “pretty clear” the deepest U.S. recession since the 1930s has ended, said the head of the group charged with making the call.
Payrolls rose by 162,000 workers last month, the third gain in the past five months and the most since March 2007, figures from the Labor Department showed today in Washington.
“I personally put lots of emphasis on employment,” Robert Hall, who heads the National Bureau of Economic Research’s Business Cycle Dating Committee, said in an interview. “I would say ‘pretty clear’ is a good description” for whether the economic contraction has ended, he said.--
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April 2 (Bloomberg) -- President Barack Obama, highlighting today’s government report that showed the U.S. economy last month created the most jobs in three years, declared the “worst of the storm is over.”
“We are beginning to turn the corner,” Obama said in a speech at a battery-parts manufacturer in Charlotte, North Carolina. “Today’s job numbers, while welcome, leave us with a lot more work to do,” he added.--
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Comment: Poor victims of their own stimulus scam.
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