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Unemployment Falls to 7.4%, a 4-Year Low

Unemployment Falls to 7.4%, a 4-Year Low
Posted August 2nd, 2013 @ 10:53am by Kevin Spak, Newser Staff

(NEWSER– Unemployment fell to a 4.5-year low of 7.4% in July, after employers added 162,000 jobs, the Labor Department announced today. But don't celebrate. That 162,000 figure was the lowest since March, and significantly less than analysts were expecting—those surveyed by Bloomberg expected to see a 185,000 bump. And the report was otherwise miserable, showing a decrease in both hourly earnings and hours worked for the first time since October.

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