Jose Rivera speaks to employers at a job fair in New York. Labor Department figures released Thursday show that initial jobless claims climbed by 8,000 to 365,000 in the week ending July 28.
Unemployment rate rises to 8.3 percent
The U.S. economy added 163,000 jobs in July, the Labor Department said Friday morning. The unemployment rate ticked up to 8.3 percent.
The monthly jobs figures released on Friday offered both good and bad news for working Americans.
On the one hand, payrolls expanded by 163,000 people, a promising rise after three straight months of disappointing job gains.
“It would appear that the slow patch we’ve had since April is over,” Gus Faucher, senior macro economist at PNC Financial Services Group, said before the release of the numbers.
But the rate of unemployment nevertheless ticked up from 8.2 percent to 8.3 percent because so many Americans are still looking for work. The jobless rate has been above 8 percent since February 2009.