US Labor Market
The U.S. economy needs to create about 10 million full-time jobs to meet the needs of all in the nation seeking full-time work. REUTERS

The U.S. economy created 163,000 jobs in July -- better than the 100,000 consensus estimate. The unemployment rate rose to 8.3 percent from 8.2 percent.

Economists surveyed by Bloomberg News had expected the economy to create 100,000 jobs in July.

The economy created a revised to 64,000 jobs in June, down from the initially-estimated 80,000 total; May, to 87,000 from 77,000.

Details to follow.

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