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Still, the economy grew at a tepid 1.7 percent annual rate in the April-June quarter, down from the 2 percent rate in the January-March quarter and 4.1 percent in the final three months of last year. Growth at or below 2 percent is typically too weak to lower the unemployment rate. Most economists expect the unemployment rate will remain above 8 percent through the November election. President Barack Obama will address the Democrat National Convention in Charlotte on Thursday. Polls show most Americans regard Republican nominee Mitt Romney as better able to handle the U.S. economy. Romney and his Republican allies have pointed to high unemployment as evidence that Obama's policies are not helping the economy. The unemployment rate was 7.8 percent when Obama took office and has been above 8 percent for the past 42 months. Most economists say "normal" unemployment is 6 percent or less. But Obama and his allies have focused on more than 4 million jobs that the economy has added in the past 2 1/2 years. A weak employment report could push the Federal Reserve to announce some new action after its meeting next week to try to boost growth.
[Associated
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