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U.S. GDP made largest growth third quarter since 2007 but confidence and hiring not up

The U.S. Gross Domestic Product, a broad indicator of the economy's strength, grew during the third quarter. It was the largest such growth since the summer of 2007.

However, the unemployment rate is staggering. The national rate hit 10.2 percent last month, the first time it has been double digits in more than 25 years.

The jobless rate increased in 29 states and the District of Columbia in October, according to a recent Labor Department survey. Thirteen states reported an unemployment rate above the current national rate.

More than eight in 10 Americans say that economic conditions are in poor shape, according to a recent CNN/Opinion Research Corp. poll. Of that number, 43 percent described the conditions as "very poor."

The best thing we can say about the labor market right now is that it may be getting worse more slowly.Jobs are likely to remain scarce for some time.

U.S. GDP made largest growth third quarter since 2007 but confidence and hiring not up

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