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Shrinking labor force offsets weak hiring to pull July jobless rate down to 4.1%
Solid jobs market underpinned by low layoffs and moderate hiring
The U.S. economy has become more resilient over the last century
Consumer mood is better, but the recent oil price spike is a risk to further improvement
Second quarter GDP growth slows, but better consumer spending is a hopeful sign
Stock market performance supported by earnings growth
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