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Patrick J. O'Keefe Discusses March 2012 Labor Report


On Friday, April 6, the U.S. Department of Labor announced that employers added 120,000 jobs in March. The unemployment rate fell to 8.2 percent.

In advance of the report's release, Patrick J. O'Keefe, J.H. Cohn's director of economic research, spoke to U.S. News and World Report. In the article, "Government Drag on Job Growth Poised to Continue," Pat points out that because they generally can't run deficits like the Federal government can, state and local governments feel fiscal strains more acutely than Washington.

In USA Today, Pat pointed out that last month's showing signals job growth could slow to a pace that better reflects modest economic growth of about 2.5% this year. "We're experiencing a steady, slow economic expansion."

Pat was also quoted in The New York Times article, "Jobs Report Tempers Hopes of Accelerating U.S. Recovery."

He also spoke to SmartMoney.com about the retail sector, saying that with the exception of auto and gasoline sales, "recovery in the rest of the retail sector has been rather tepid." Read "Retailers Not Shopping for New Hires."

On Friday, Pat also appeared on on Bloomberg Radio's Hays Advantage.

Published date: 4/6/2012

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