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Americans have reasons to be cautious in their optimism. The jobless rate is at the lowest level in nearly three years, but it's still at a high 8.5 percent. Economists predict that 155,000 more net jobs were created in January, but the unemployment rate is expected to be the same. The government releases the job figures for January Friday. And consumers still are worried the weak housing market. U.S. home prices fell for a third straight month in nearly all cities tracked by a major index. Prices dropped in November from October in 19 of the 20 cities tracked, according to the Standard & Poor's/Case-Shiller home-price index released Tuesday The index underscores those concerns. The proportion of consumers expecting an increase in their incomes declined to 13.8 percent from 16.3 percent. Worries about inflation ticked up, and shoppers cut back spending plans over the next six months for big purchases like automobiles, homes, and major appliances like refrigerators and TV sets, according to the survey. "The biggest concern is that incomes are not keeping pace with inflation, and that's causing (shoppers) to look at every expenditure," Vitner said..
[Associated
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