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Economy Gains 157,000 Jobs in July; Unemployment Little Changed at 3.9%
… The U.S. economy gained 157,000 jobs in July, and unemployment was little changed at 3.9%, according to figures released this morning by the U.S. Bureau of Labor Statistics. Since the labor market continues to recover at only a tempered pace, the Federal Reserve’s Open Market Committee did the right thing to hold off on further rate hikes. It would be well-advised to continue on that cautious path. … In response to … unemployment rate edges down to 3.9 percent. Broadest measure of labor slack U-6, including part-time wanting full-time work and discouraged workers falls to 7.5 percent. All below pre-Recession levels. @AFLCIO — William E. Spriggs (@WSpriggs) …