July Jobs Report | Reuters.com
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July Jobs Report

Live coverage as the jobs report for July hits.

  • Improving U.S. jobs market bolsters case for Fed rate hike


    U.S. employment rose at a solid clip in July and wages rebounded after a surprise stall in the prior month, signs of an improving economy that could open the door wider to a Federal Reserve interest rate hike in September.

    Nonfarm payrolls increased 215,000 last month as a pickup in construction and manufacturing jobs offset further declines in the mining sector, the Labor Department said on Friday. The unemployment rate held at a seven-year low of 5.3 percent.

    Payrolls data for May and June were revised to show 14,000 more jobs created than previously reported. In addition, the average workweek increased to 34.6 hours, the highest since February, from 34.5 hours in June.

    "If you thought that the Fed was going to go in September, this report would suit that thematic nicely. I don't think anything has changed in that regard. I think it's another step toward the eventual lift-off," said Tom Porcelli, chief U.S. economist at RBC Capital Markets in New York. More details.


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