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Take a deep breath and ignore monthly jobs report

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NEW YORK — What if the Bureau of Labor Statistics had reported a 220,000 increase in March nonfarm jobs two weeks ago instead of 120,000?

Simple. We would have been spared a lot of market volatility, political grandstanding, I-told-you-sos and speculation that, like 2010 and 2011, solid job growth early in the year would peter out by summer.

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