Economy Surprises With 163,000 New Jobs in July

Economy Surprises With 163,000 New Jobs in July

08/03/2012 By: Mark Lieberman, Five Star Institute Economist

The nation added a surprising 163,000 jobs in July but the unemployment rate ticked up to 8.3 percent as the number of people working actually declined, the Bureau of Labor Statistics reported Friday. At the same time, June’s paltry job gains – originally reported at 80,000 – were reduced to 64,000 while May’s job numbers edged up to 87,000 from 77,000.

Economists expected payrolls to grow by 100,000 and the unemployment rate to remain at 8.2 percent.

(Developing story)

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