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The U.S. economy added jobs in July – though it was at a slower pace than in the last several months as uncertainty over economic conditions mounted.
The Labor Department on Friday reported that employers added 73,000 jobs in July, a figure that was cooler than the estimate of economists polled by LSEG.
The unemployment rate ticked slightly higher to 4.2%, in line with LSEG economists’ estimate.
Job gains in the prior two months were both revised, with job creation in May revised downward by 125,000 from a gain of 144,000 to 19,000; and June job gains were revised down by 133,000 from a gain of 147,000 to 14,000. Taken together, employment in May and June was 258,000 lower than previously reported, which the Bureau of Labor Statistics noted were “larger than normal” revisions.
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