U.S. jobless rate projected to fall sharply | Reuters: A survey of 45 forecasters released on Friday by the Philadelphia Federal Reserve projected the unemployment rate averaging 8.1 percent during the year's fourth quarter. Voting for president will be November 6.
In the Philadelphia Fed's previous poll released in November 2011, forecasters saw unemployment averaging 8.7 percent in the last three months of this year.
The forecasters slightly lowered their outlook for economic growth.
The new survey showed gross domestic product was expected to grow at an average annual rate of 2.3 percent in 2012, down from a 2.4 percent estimate in the fourth-quarter survey. Economists have cautioned that a big push by companies to restock their shelves at the end of 2011 would not carry over into this year, dulling the growth outlook.
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