U.S. adds 164,000 jobs in July, unemployment flat at 3.7%
WASHINGTON (MarketWatch) - The U.S. generated a steady 164,000 new jobs in July, showing the labor market still has some sizzle despite stiffer economic headwinds. The increase in new jobs was slightly below the 171,000 MarketWatch forecast. The unemployment rate remained at 3.7%, just a hair above a 50-year low. The average wage paid to American workers rose 8 cents, or 0.3%, to $27.98 an hour. The 12-month rate of hourly wage gains edged up to 3.2% from 3.1%. Hours worked each week dipped 0.1 hour to 34.3, mostly reflecting a decline in manufacturing. The government revised the increase in new jobs in June down to 193,000 from 224,000. May's gain was cut to 62,000 from 72,000.