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162,000 Jobs Added In July; Unemployment Drops To 7.4 Percent

Aug 2, 2013 (Morning Edition) — The Labor Department says the U.S. economy added 162,000 new jobs last month. That's lower than many economists expected. Still, the unemployment rate dropped to 7.4 percent. Workers also had fewer hours on the job, and hourly earnings fell in July for the first time since last fall.

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