Payrolls Surge as U.S. Hiring Gains Broad-Based for Second Month

August 5, 2016 12:41 PM

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Payrolls jumped in July for a second month and wages climbed, pointing to renewed vigor in the U.S. labor market that will sustain consumer spending into the second half of the year.

Payrolls 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 Friday. The jobless rate held at 4.9 percent as many of the people streaming into...

Also read: U.S. economy creates 178,000 jobs in November; jobless rate drops to 4.6%

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