U.S. Posts Another Strong Month of Job Gains
- Jobless rate holds at 4.9% as more people join workforce
- Wages climb 0.3%, more than projected and most since April
U.S. Adds 255,000 Jobs in July, Jobless Rate at 4.9%
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Employment jumped in July for a second month and wages climbed, pointing to renewed vigor in the U.S. labor market that will sustain consumer spending into the second half of the year.
Payrolls climbed by 255,000 last month, exceeding all forecasts in a Bloomberg survey of 89 economists, following a 292,000 gain in June that was a bit larger than previously estimated, a Labor Department report showed Friday. The jobless rate held at 4.9 percent as many of the people streaming into the labor force found jobs.