The latest employment report in the U.S. shows that the economy has been creating jobs at a healthy rate for three months, but a look at underlying data shows that the overall picture is even better, according to The Economist. During that period, the economy generated private-sector jobs at an above-trend rate, but the expansion was hidden by a contracting government payroll. Based on the data, fourth-quarter payroll growth probably will exceed the 2% expected by most forecasters, the magazine notes.

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