Economy Adds 255,000 Jobs In July, Unemployment at 4.9%

From the Denver Post:

Employers added a healthy 255,000 jobs last month, a sign of confidence amid sluggish growth that points to a resilient U.S. economy.

The Labor Department said Friday that the unemployment rate remained a low 4.9 percent in July. More Americans launched job searches, and nearly all were hired. But the influx of job seekers meant that the number of unemployed fell only slightly.

Average hourly pay picked up and is 2.6 percent higher than it was a year ago, matching the fastest pace since the recession.

Sales of existing homes reached a nine-year high in June, and sales of new homes accelerated to an eight-year high.