A weak jobs report Friday and major downward revisions to May and June employment figures have set off alarm bells about the direction of the U.S. economy.

The U.S. added only 73,000 jobs in July and the unemployment rate stayed flat at 4.2 percent, according to data released Friday by the Labor Department. That was well below the expectations of economists, most of whom projected job gains of at least 100,000 in July.

Job........

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