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Janet Yellen's labor gauges support easier-for-longer Fed policy

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More than half the gauges Janet Yellen uses to track the U.S. labor market are below pre-recession levels, reinforcing the likelihood she will support an easier-for-longer Federal Reserve policy as she prepares to succeed Ben S. Bernanke as chairman. While payrolls have increased and firings slowed, four measures -- unemployment, labor force participation and rates on hiring and voluntary quits...

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