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Signs of Easing in Unemployment Report
The Federal Reserve Board in its bulletin notes signs of leveling off in unemployment since February with a slight drop in short term jobless claims. It cautions that long term unemployment has more than doubled year over year while April’s 7.4 percent rate marks the ninth straight month of higher seasonally adjusted unemployment. Construction jobs fell 5 percent in April as nonmanufacturing lines show easing from earlier recession.
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