US jobs growth well ahead of expectations

Wage figures also point to strengthening economy

5th August, 2016
US employment grows, wage growth quickens Pic: Getty

US employment jumped in July for a second month running and wages climbed, pointing to renewed vigour in the US labour market. The number of jobs climbed by 255,000 last month, exceeding all forecasts in a Bloomberg survey of 89 economists, following a 292,000 gain in June that was a bit larger than previously estimated, a Labor Department report showed this afternoon.

The jobless rate held steady at 4.9 per cent as many of the people streaming into...

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