NYC job stats are misleading: Report

The city's Independent Budget Office say the New York's high unemployment numbers may not exactly be an indicator of bad economic news.

The IBO analyzed employment data from the Bureau of Labor Statistics and found that although the city's unemployment rate was 8.8% in December, the city's labor force grew.

Doug Turetsky, the IBO's chief of staff, said the data didn't include the people who stopped looking for a job but changed their mind once positions opened up.

Tags: NEWS , Ivan Pereira , IBO , ARTICLE , AMNY , HOLD

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