U.S., Canada gains may be overstated: Bank of Canada

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Ottawa: The decline in the jobless rate in the United States overstates the improvement in the labor market there, and to a lesser extent the same may be true in Canada, the Bank of Canada said in a study on Tuesday. “Although the unemployment rates in both countries are down significantly from the sharp increases seen during the recession, the recovery in labor markets remains incomplete,” the central bank study (http://link.reuters.com/mum39v) asserted.