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Patrick J. O’Keefe Discusses April Jobs Report in Media


5/3/13

On Friday, May 3, the Department of Labor reported that the U.S. economy added 165,000 jobs in April and unemployment fell to 7.5%.

In advance of the report’s release, Patrick J. O’Keefe, CohnReznick’s Director of Economic Research, was quoted in The Fiscal Times, saying, “In a globally competitive world, we have a labor market that is still organized around the post-World War II experience. Right now, we are watching a large cohort of young adults – almost as large as the baby boomers – enter a workforce where there is little opportunity for them.”

In an interview with The Wall Street Journal This Morning, Pat noted, “We’re in the ‘cha-cha’ economy. We’ve got a lot of movement going on but we’re not making much progress.”

In this morning's Reuters wrap-up, Pat said, "We need more than 3 percent growth on a sustained basis to make real inroads in reducing not only the number of those counted as unemployed, but the legions of those who are nowhere to be found in the labor force data."

Pat also appeard on Bloomberg Radio's Hay’s Advantage this morning.

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