Nonfarm payrolls: US economy adds 255,000 jobs in July, beating expectations

Ani Salama FXStreet

US economy created 255,000 new jobs in July, the US Labor Department reported on Friday.

The eagerly awaited nonfarm payroll report showed a 255,000 job gain, versus 180,000 expected but down from June’s upwardly revised 292,000.

The unemployment rate, calculated from a separate survey, stood unchanged at 4.9% in July, against 4.8% expected.

Average hourly earnings for workers rose by 8 cents, or 0.3%, from June to July to $25.69. From a year earlier, average hourly earnings were up 2.6%. The average weekly hours of work rose 0.1 hour to 34.5 hours last month.

Author

Ani Salama

FXStreet

Ani Salama is an Economist specialized in financial markets and statistics analysis. In 2010, she joined FXstreet where she now contributes with the news section.

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