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WASHINGTON Breaking News: Brightening Jobs Picture May Draw Fed Closer to Tapering

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July 05, 2013 AT 9:51 AM
Job growth was stronger than expected in June and the employment count for the prior two months was revised higher. The numbers show the economy is on solid ground and is likely keeping the Federal Reserve on track to scale back its massive monetary stimulus later this year. Employers added 195,000 new jobs to their payrolls last month, the Labor Department said, while the unemployment rate held steady at 7.6 percent as more people entered the workforce.