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US employers add 162K jobs; unemployment rate falls to 7.4 percent

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By CHRISTOPHER S. RUGABER, AP Economics Writer

WASHINGTON (AP) — U.S. employers added 162,000 jobs in July, a modest increase and the fewest since March. The gain was still enough to help lower the unemployment rate to a 4½-year low of 7.4 percent, a hopeful sign in an otherwise lackluster report.

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