A More Robust Job Market?

HSBC Securities economist Ian Morris says history shows that payroll numbers underestimate employment growth during a recovery

Many economists view the drop in the unemployment rate from 6% in April to 5.7% in August with suspicion -- especially since payroll employment has hardly grown in the same period. But economist Ian Morris of HSBC Securities thinks it would be a mistake to dismiss the good news from the jobless numbers.

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