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U.S. economy smashes expectations, adds 255,000 jobs in July

The U.S. economy added 255,000 jobs in July, the Labor Department reported Friday, smashing economists' expectations of a gain of about 180,000. Also, June's gains were upgraded to 292,000 from 287,000, and May's dismal 11,000-job gain was upped to 24,000. Wages also rose. The unemployment rate remained unchanged at 4.9 percent. U.S. stock futures added to earlier gains after the second strong jobs report in a row eased fears that the slow, seven-year economic recovery was in trouble.