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U.S. Jobs Grew 163,000 in July U.S. Jobs Grew 163,000 in July

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Economy

U.S. Jobs Grew 163,000 in July

photo of Jim Tankersley
August 3, 2012

U.S. economy added 163,000 jobs in July, a faster-than-expected pace, but the jobless rate rose

  • Jobs growth in Labor Department's latest report exceeded private economists’ consensus forecast for a 100,000 jobs gain.
  • The unemployment rate rose to 8.3 percent in July from 8.2 percent in June.
  • The pace of growth still not strong enough to bring down the unemployment rate over time.
  • The report could give President Obama a slight boost on the campaign trail. Republican Mitt Romney has hammered Obama over recent lackluster jobs growth and an anemic pace of economic expansion.
  • Economists still split over whether the Federal Reserve to adopt a new round of monetary stimulus in September and latest figure does immediately clarify what the Fed will do.

 

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