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A top economic adviser to U.S. President Barack Obama said on Thursday that gross domestic product growth is an encouraging sign that the economy is moving in the right direction, but things must improve more to restore growth in the job market.
"The turnaround in crucial labor market indicators, such as employment and the unemployment rate, typically occurs after the turnaround in GDP," Christina Romer, chairwoman of the White House Council of Economic Advisers, said in a statement. "And it will take sustained, robust GDP growth to bring the unemployment rate down substantially."
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