What the job report says about the US economy

The US economy created 164,000 jobs in July, which is in line with the expectations and growth rate of the last quarter. This is a healthy number, considering the growth of the economy for more than a decade.
The unemployment rate remained at 3.7%, marking the 17th consecutive month in which it is at or below 4.0%.
The pace of hiring has slowed to an average of 140,000 new jobs per month in the last three months, up from 187,000 a month last year. The report exactly matches the forecasts.
Christine Romans reports from CNN.

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