Employers added 162,000 jobs last month and took a nibble from the unemployment rate, which dropped to 7.4 percent, the U.S. Department of Labor said. Gains were reported in retail, food services, financial activities and wholesale trade. Manufacturers added 6,000 jobs, and government hiring was stagnant. The unemployment rate in June was 7.5 percent. The economy has generated an average of 192,000 jobs in the first seven months of the year to mark the best stretch of hiring to start a year since 2006, MarketWatch reported. Average hourly wages fell 2 cents to $23.98 and the average workweek slipped a notch to 34.4 hours. Read more.