The U.S. labor market hit its stride in July, as employers added workers at a solid clip, the jobless rate matched a 16-year low and monthly wage growth picked up.
Payrolls rose 209,000 in July, well above the estimate of 180,000, while May-June revisions added 2,000 more jobs. The unemployment rate, meanwhile, derived from a separate survey of households, fell to 4.3%, matching the estimate. Average hourly earnings rose 0.3%, also matching the estimate, and are up 2.5% year-over-year.
