Andrew Tilton News
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A gauge known as Okun’s Law that’s historically used to predict the U.S. unemployment rate based on the economic growth outlook is “broken,” according to Goldman Sachs Inc.
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A decline in unemployment and pickup in manufacturing point to accelerating U.S. growth. Some economists say the numbers may not be as good as they look.
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It may become a bit easier to find a job just as President Barack Obama campaigns to keep his own.
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Shifting demographics suggest there will be fewer workers competing for job openings in the U.S., said economist Andrew Tilton , a managing director at Goldman, Sachs & Co. in New York.
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The fewest workers in three years filed claims for U.S. jobless benefits last week, indicating the world’s largest economy is strengthening heading into 2012.
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“Cascading default, bank runs and catastrophic risk” lie ahead for the world economy unless Europe resolves its festering debt crisis, Timothy F. Geithner told global finance chiefs on the morning of Sept. 24.
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The following are the day's top business stories:
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Employers in the U.S. added fewer jobs than forecast in December, confirming Federal Reserve Chairman Ben S. Bernanke ’s view that it could take “four to five more years” for the labor market to completely mend.
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The U.S. has likely dodged a recession for now, even though it’s too early to sound the all- clear for the economy.
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Canada’s dollar gained the most in three weeks versus its U.S. counterpart as stocks rose and the Bank of Canada said it expects growth to resume in the second half of 2011, cooling bets it will cut interest rates this year.
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