The unemployment rate fell to 3.9% in July

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Unemployment stands at 4%, close to an 18-year low.

(CNN Money) — The US unemployment rate fell to 3.9% and the economy added 157,000 jobs in July.

Paychecks grew only slightly — up 2.7% compared to the same time last year.

The jobs market has continued to grow steadily as the economy expands. The government also revised the previous months’ job gains by an additional 59,000.

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