The U.S. unemployment rate declined to 10.2 percent in July, as the economy added 1.8 million jobs, the Labor Department said on Friday. Previously, last month's June report showed the unemployment rate decline to 11.1 percent, with 4.8 million jobs added. The July report surpassed expectations, as experts were anticipating about 1.48 million jobs would be added and that the unemployment rate would decline to about 10.6 percent. However, the unemployment rate is still higher than during the Great Recession, and experts raised concerns about the recovery's slowing pace. "The economy is still in a massive hole, but we're crawling back out," University of Michigan economics professor Justin Wolfers tweeted. "The problem is that the pace of improvement has slowed to a crawl."

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