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Payrolls increased by 163,000 in July

By Palm Beach Business.com

WASHINGTON — The national unemployment rate ticked slightly higher in July even as employers bolstered payrolls by a greater-than-expected 163,000, the Labor Department reported Friday.

The rate for July moved to 8.3 percent from June's 8.2 percent despite the unexpectedly strong hiring during the month. Most economists had expected employers to add about 100,000 jobs during the month.

U.S. stocks were up more than a percent in the opening hour of trading.

Employment rose in professional and business services by 49,000 during the month, food services and drinking places by 29,000 and manufacturing by 25,000.

Employment at utilities fell by 8,000 because of a labor dispute, but that was the only jobs sector to show a decline.

Florida will report its July numbers on August 17.