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Patrick J. O'Keefe Discusses March Jobs Report in Media


4/5/13

On Friday, April 5, the Department of Labor reported that the economy added 88,000 jobs, while the unemployment rate fell to 7.6%.

In advance of the report’s release, Patrick J. O’Keefe, CohnReznick’s Director of Economic Research, appeared on CNBC Worldwide Exchange. He said, "Most are going to look at the emplolyment rate; the proportion of the work-age population that has jobs. I think that’s a better indicator of human resource utilization than is the unemployment rate." In an additional segment, he also discussed the impact of the U.S. sequester, Hurricane Sandy rebuilding efforts, and housing.

Pat also appeared on Wall Street Journal This Morning in advance of the report. He pointed out,  "It has been an extraordinarily slow recovery. There has been progress but it’s been inadequate given the damage that was done during the 2008 and 2009 meltdowns."

In an interview with U.S. News & World Report, Pat expressed thoughts that for the remainder of this year, "We will see sustained increases in nonfarm employment of around 200 to 225,000. But I think it's important to emphasize that those numbers suggest that we are going from a crawl to a jog. And there's no anticipation that the labor market will begin to sprint anytime soon."

Pat also spoke with USA Today and CNNMoney.

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