According to the latest data from the Bureau of Labor Statistics, the U.S. economy gained 163,000 jobs last month, while the unemployment rate ticked up slightly to 8.3 percent. Economists had expected a gain of 100,000 jobs. The wider U-6 measure of underemployment increased slightly to 15 percent. The number of jobs created in May was revised up 10,000, while June’s numbers were revised down 16,000.
Moody’s Analytics notes that the unemployment rate increase was “NOT statistically significant. Unrounded, was 8.254%, up from 8.217% in June.”