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The economy continued to show signs of strength last week, as the Labor Department reported on Friday that both jobs and wages increased during July. Employers added 207,000 jobs in July, and average hourly wages increased to $16.13 (up 0.4 percent from June’s $16.07). The good news, however, sparked investor fears that the Fed would continue to raise interest rates to stave off inflation. (Policy-makers are expected to raise short-term rates again this week, the 10th hike since June 2004.)
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