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U.S. Economy Finally Closes Jobs Gap With Strong July Payrolls

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U.S. Adds 209,000 Jobs in July, Jobless Rate at 4.3%

Eight years after the end of the last recession, the U.S. economy has by another measure returned to employment levels from before the downturn.

The better-than-estimated 209,000 payroll gain in July was more than enough to close what the Hamilton Project calls the “jobs gap.” The measure, which adjusts for growth and aging of the population, accounts for total employment and what’s needed to absorb the number of new labor-market entrants, according to the economics offshoot of the Brookings Institution.