By Rex Nutting, MarketWatch
Hiring stepped up in the United States in July as 207,000 jobs were added to nonfarm payrolls, the Labor Department said Friday.
The unemployment rate remained at 5%, the lowest in 47 months.
Job growth was slightly stronger than expected by Wall Street economists, who were forecasting gains of about 183,000, according to a survey conducted by MarketWatch.
Seasonally adjusted payrolls in May and June were revised higher by a cumulative 42,000. Payroll growth has averaged 191,000 per month so far in 2005.
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