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Economy grows faster than expected in third quarter at 3.1 percent
The US economy grew 3.1 percent in the third quarter, faster than previously estimated, the Commerce Department said Thursday. Gross domestic product growth in the July-September period was revised upward from prior estimates of 2.7 percent and 2.0 percent, the department said. The higher figure reflects upward revisions to consumer…
US unemployment rate drops to 9%
The US unemployment rate ticked down slightly to 9.0 percent last month, the Labor Department reported Friday, adding that a modest 80,000 jobs were created. Breaking three months of unemployment stuck at 9.1 percent, the October rate was modestly better than economists expected, but will provide little succor to President Barack Obama as he races to create jobs before 2012…
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