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U.S. Job Numbers Surpass Expectations

Job creation south of the border continued at a solid pace in July, with the economy adding 255,000 positions.

Figures released Friday by the U.S. Labor Department also showed the headline unemployment rate held steady at 4.9% Hourly wages also moved higher, increasing by eight cents or an annualized pace of 2.6%.

Economists had foreseen an increase of 180,000 and a decline of the unemployment rate to 4.8% from June's 4.9%. June payroll growth initially was reported at 287,000.

Professional and business services led the way with 70,000 new positions, while health-care jobs rose 43,000 and Wall Street jobs increased by 18,000. Leisure and hospitality continued to be a big contributor to job growth, adding 45,000.