Jobless rate reaches lowest point since 2008

08/4/2013 | Los Angeles Times (tiered subscription model)

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The U.S. unemployment rate last month declined 0.2 of a percentage point, to 7.4%, the lowest rate since December of 2008, according to Labor Department data. However, the addition of 162,000 jobs for the month was the smallest gain in four months, and many of the jobs added were in low-paying industries.

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