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American economy adds modest 162,000 jobs in July

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WASHINGTON (AP) — The U.S. economy is steadily adding jobs — just not at a consistently strong pace. July's modest gain of 162,000 jobs was the smallest since March. And most of the job growth came in lower-paying industries or part-time work. The unemployment rate fell from 7.6 percent to a 4½-year low of 7.4 percent, still well above the 5 percent to 6 percent typical of a healthy economy....

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