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Local economists question usefulness of jobs reports

By Jay Fitzgerald
Globe Correspondent / March 18, 2012
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Until 10 days ago, Massachusetts business executives and policy makers could feel pretty good about the pace of the state’s economic recovery. Official statistics showed employers adding nearly 41,000 jobs last year, an average of about 3,400 new jobs a month. Then the US Labor Department revised its earlier estimates, downgrading the state’s 2011 job growth by 78 percent, to just over 9,000 jobs, or about 750 jobs a month. Local economists are questioning the credibility of the state employment and unemployment statistics released each month

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