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US economy adds 290K jobs in July

iStock/Thinkstock(NEW YORK) -- The U.S. created 209,000 jobs in July, marking a second straight month of gains.

The unemployment rate fell to 4.3 percent from 4.4 percent. This matched a 16-year low that was first reached in May, according to the Labor Department.

However, the average hourly wage rose by only 2.5 percent from last year, which is below the rate of growth when the unemployment rate is typically this low.

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