U.S. Economy Added 157,000 Jobs in July, Fewer Than Expected

The U.S. economy added 157,000 jobs in July, falling short of analysts’ expectations of a rise of around 190,000. The fall in the unemployment rate, however, matched expectations with a slight reduction to to 3.9 percent—just down from slightly 4 percent in June—which came from an influx of new workers joining the labor force, The Wall Street Journal reports. New revisions for jobs numbers for May and June means monthly job gains have averaged at 224,000 the last three months. Meanwhile, average hourly wages rose 0.3 percent from a month earlier, to $27.05 in July—a 2.7 percent increase from a year earlier.