The Labor Market Is Far From Out of the Woods

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With 2010 ending on a bright note, it is easy to become overly optimistic on the U.S. economy. To be certain, there has been a great deal of uplifting economic news in recent weeks. The unemployment rate tumbled a surprising 0.4 percentage points in December and factory orders and industrial production are picking up steam. We have also seen steady improvements in motor vehicle sales and broader retail sales, a rebound in tourism and travel related businesses and a solid, broad-based rise in