U.S. Jobs Grew 163,000 in July

By Jim Tankersley | Friday, August 3, 2012 | 8:08 a.m.

U.S. economy added 163,000 jobs in July, a faster-than-expected pace, but the jobless rate rose

• Jobs growth in Labor Department's latest report exceeded private economists’ consensus forecast for a 100,000 jobs gain.

• The unemployment rate rose to 8.3 percent in July from 8.2 percent in June.

• The pace of growth still not strong enough to bring down the unemployment rate over time.

• The report could give President Obama a slight boost on the campaign trail. Republican Mitt Romney has hammered Obama over recent lackluster jobs growth and an anemic pace of economic expansion.

• Economists still split over whether the Federal Reserve to adopt a new round of monetary stimulus in September and latest figure does immediately clarify what the Fed will do.