American economy adds modest 162,000 jobs in July

U.S. employers added 162,000 jobs in July, a modest increase and the fewest since March. At the same time, the unemployment rate fell from 7.6 percent to a 4½-year low of 7.4 percent. The rate fell because more Americans said they were working, though some people stopped looking for a job and were no longer counted as unemployed. Friday’s report from the Labor Department pointed to a less-than-robust job market. It suggested that the economy’s subpar growth and modest consumer spending are makin...

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