US jobless rate falls to 10.2% in July as employment rises by 1.8m

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The US non-farm jobless rate fell to 10.2% in July as employment rose by 1.8m, according to the Bureau of Labor Statistics.

The market had expected a more modest improvement in the unemployment rate to 10.5%, compared to 11.1% in June, amid the addition of 1.53m positions.