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Payrolls Rise Less Than Forecast, U.S. Jobless Rate Falls

Employers added fewer workers than forecast in July even as the U.S. jobless rate fell, showing uneven labor-market gains as the world’s largest economy struggles to gain momentum.

Payrolls rose by 162,000, the least in four months, and the jobless rate dropped to 7.4 percent from 7.6 percent. The workweek shrank, and hourly earnings fell for the first time since October.