Employment in the U.S. rose by more than anticipated in the month of July, according to a report released by the Labor Department on Friday, although the report also showed an unexpected uptick by the unemployment rate.
The Labor Department said non-farm payroll employment increased by 163,000 jobs in July following a downwardly revised increase of 64,000 jobs in June.
Economists had expected employment to increase by about 100,000 jobs compared to the addition of 80,000 jobs originally reported for the previous month.
Despite the job growth, the unemployment rate edged up to 8.3 percent in July from 8.2 percent in June. The increase surprised economists, who had expected the unemployment rate to come in unchanged.
by RTT Staff Writer
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