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Political pundits are busy this morning cranking out theories and scenarios regarding the NEWS that jobs growth in January was considerably higher than expected.
For example, Nate Silver, our favorite numbers-cruncher, has THIS long and complicated blog post in which he says that the “magic number” in monthly jobs growth is 150,000 if President Obama is going to have a chance to be re-elected in November. The January figure was 243,000 jobs.
Nor were last month’s figures the only good news in the Labor Department’s report this morning. As Ed Kilgore NOTES, the jobs numbers for November and December 2011, which were expected to be...
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