Nonfarm payrolls: US economy adds 255,000 jobs in July, beating expectations

US economy created 255,000 new jobs in July, the US Labor Department reported on Friday.

The eagerly awaited nonfarm payroll report showed a 255,000 job gain, versus 180,000 expected but down from June’s upwardly revised 292,000.

The unemployment rate, calculated from a separate survey, stood unchanged at 4.9% in July, against 4.8% expected.

Average hourly earnings for workers rose by 8 cents, or 0.3%, from June to July to $25.69. From a year earlier, average hourly earnings were up 2.6%. The average weekly hours of work rose 0.1 hour to 34.5 hours last month.