BREAKING NEWS: Economy added 157K jobs in July

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The economy added 157,000 jobs in July, the Labor Department reported today, a sharp downturn from 248,000 in June.

Average hourly private-sector earnings were up 2.7 percent over the previous year, unchanged from June. The unemployment rate was 3.9 percent, down from 4 percent in June.

Analysts surveyed by Bloomberg had predicted the creation of 190,000 jobs.

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