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Jobs report disappoints with 162,000 jobs added, unemployment falls to 7.4 percent

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The labor recovery remains weak but consistent, as data released Friday by the Bureau of Labor Statistics showed that the economy added 162,000 jobs in July and the unemployment rate fell from 7.6 percent to 7.4 percent as labor force participation remained stagnant Friday’s report came in below analysts’ expectations. Average hourly earnings fell by 2 cents while the average workweek...

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