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The U.S. created 165,000 jobs in April, beating forecasts of 135,000, as the unemployment rate dropped to 7.5% from 7.6% the prior month. An additional 114,000 jobs were created in March and February than previously reported. The labor force increased, indicating that people think there is a good chance of getting a job. The gains were entirely in the private sector. Hourly earnings inched up 4 cents to $23.87; over the last year, they have risen only 1.9%, barely keeping pace with inflation, according to MarketWatch.com.

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