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The economy’s growing, but the jobs aren’t coming
And this final note. We talked earlier with John Cassidy about what’s changed on Wall Street in the two years since the financial meltdown.
Here’s one thing that’s changed: Corporate profits set a record in the third quarter of this year. It’s the seventh quarter of growth in a row. The Commerce Department also reported today that the overall economy grew at a rate of 2.5 percent last quarter. And yet that growth has yet to find its way into the job market. The unemployment rate still stands at close to 10 percent.
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