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July Payrolls Up 163,000

Bigger-than-expected increase in jobs is coupled with rise in the jobless rate, to 8.3%.

By Shobhana Chandra, Bloomberg | Updated on August 03, 2012

Payrolls in the U.S. climbed more than forecast in July, boosted by a pickup in employment at automakers even as the jobless rate unexpectedly rose to a five-month high.

Payrolls increased 163,000 following a revised 64,000 rise in June that was less than initially reported, Labor Department figures showed today in Washington. The median estimate of 89 economists surveyed by Bloomberg News called for a gain of 100,000. Unemployment rose to 8.3 percent.

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