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US Added 209,000 Jobs in July; unemployment rate at 6.2 percent

by on August 1, 2014 1:49 pm BST
 

The US economy added 209,000 jobs in July and the unemployment rate ticked up to 6.2%, the Bureau of Labor Statistics reports. That’s slightly below the consensus estimate of 233,000, but still not too shabby.

Data for May and June were revised to show a total of 15,000 more jobs created than previously reported, showing underlying momentum.

July marked the sixth straight month that employment has expanded by more than 200,000 jobs, a stretch last seen in 1997. The one tenth of a percentage point increase in the unemployment rate to 6.2 percent came as more people entered the labor market, a sign of confidence in the job market.

Average hourly earnings, which are being closely monitored as a potential signal of reduced slack that could prompt the Fed to raise rates, rose only one cent.