Consumers' fears elevate jobless rate, Fed study finds

09/18/2012 | Bloomberg

If U.S. consumers weren't so worried about the economy, the unemployment rate would fall to 7%, rather than fluctuating in the 8% to 9% range, a Federal Reserve study concluded. "Uncertainty has pushed up the U.S. unemployment rate by between one and two percentage points since the start of the financial crisis in 2008," according to a paper published by the Federal Reserve Bank of San Francisco.

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