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JOBS GROWTH UNEXPECTEDLY STRONG IN JULY:
WASHINGTON (Reuters) - U.S. job growth picked up last month as employers added 207,000 workers to their payrolls, a healthy gain that led Wall Street to increase bets on rate hikes from the Federal Reserve.
The unemployment rate held steady at the 5 percent reached in June, the lowest level since September 2001, the Labor Department said on Friday.
"This is a crystal clear indication that the labor markets are very healthy and it reinforces the notion that the economy is growing in a healthy, sustainable way," said Dana Johnson, chief economist at Comerica in Detroit.
The GWB tax cuts worked.
