Too early to call a spring 'swoon' -U.S. Fed's Bullard

April 9 Tue Apr 9, 2013 8:33am EDT

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April 9 (Reuters) - A top Federal Reserve official downplayed the meager March jobs report, arguing he still expects unemployment to tick down to about 7 percent by year end and that there is not enough evidence to suggest the U.S. economy is entering another spring "swoon."

St. Louis Fed President James Bullard pointed to a stronger Europe and other more positive U.S. economic data beyond the employment report, which last week showed only 88,000 jobs were created last month in the United States.

Bullard, speaking on CNBC, however added he was concerned that the drop in the unemployment rate to 7.6 percent, from 7.7 percent the previous month, was due to fewer Americans hunting for work.

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