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U.S. Economy Adds 223,000 Jobs

The economy added a healthy 223,000 jobs last month, the Labor Department reported Thursday, but with other indicators showing wages flat and many Americans remaining on the sidelines, the overall economic picture for workers was not nearly as bright.

Although the unemployment rate fell to 5.3 percent, the lowest in seven years, that was driven largely by an exodus from the work force, rather than more people finding jobs. Moreover, the strong payroll gains for April and May, which had led many analysts to conclude that the economy might finally be gaining momentum, were revised downward by 60,000 jobs. More >

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