162,000 jobs added to economy; unemployment rate falls to 7.4%

08/2/2013 | MarketWatch

(Bloomberg via Getty Images)

The U.S. economy added 162,000 jobs in July while the unemployment rate came down to 7.4%, according to the Labor Department. The unemployment rate is the lowest since December 2008, due in part to people dropping out of the labor force. The Labor Department also revised down job gains for June and May.

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