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SMRA's Ray Stone noted on July jobs...>

US DATA REACT
US DATA REACT: SMRA's Ray Stone noted on July jobs that the "July Unemployment
Rate dipped to 4.3% (4.3497%) from 4.4% in June. The current unemployment
remains below most notions of NAIRU, which is generally thought to be in the
4.75% to 5% zone."
- He added that "particularly noteworthy was a 0.3% increase in hourly earnings,
about 0.1% above recent trends."

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