- The US economy added 215,000 jobs in July, while the unemployment rate remained steady at 5.3%, meeting expectations.
Health care added 28,000 jobs in July and has added 436,000 jobs over the year.
- Some commentators have asserted that the unemployment rate is a misleading measure because the post-crisis decline in the labor force reflects more than demographic factors.
- Friday’s report means “it will be hard to justify delaying an initial Fed rate hike”, said Scott Anderson, chief economist of Bank of the West in San Francisco.
- Economists had expected employment to climb by about 223,000 jobs, which would have matched the increase originally reported for the previous month.