US adds 255,000 jobs

US adds 255,000 jobs

US adds 255,000 jobs WASHINGTON: The US economy continued robust job creation in July, largely surpassing analyst expectations, according to data released on Friday by the Labour Department.

Non-farm payrolls rose by 255,000 jobs while the unem­ployment rate rema­ined unchanged from the month before at 4.9pc.

Analysts had forecast a far more modest increase of 185,000 jobs.

The new numbers were also accompanied by upward revisions for the months of May and June in a sign that job markets were healthier than previously thought.

Private businesses and government agencies added 292,000 jobs in June, not the 287,000 first reported, and 24,000 jobs in May, not the low revised figure of 11,000.

The closely watched figures help fill out a complex economic picture for market observers eager for signs of whether the US Fed­eral Reserve will raise interest rates later this year.

Sending a somewhat contrary signal, the Commerce Department said last month that economic activity had grown by just 1.2pc in the second quarter.

Source: http://www.dawn.com/news/1275703/us-adds-255000-jobs

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