We are seeing slight improvements in the economy, however with tax reform for small business that provide more then half of all jobs in the U.S. the unemployment rate could increase with tax reform. The U.S. hourly earnings stayed level, only raising by 9 cents, business needs to do better on this but can't if held back by high taxes and other issues.
The U.S. economy added 209,000 net new jobs in July, beating expectations for 183,000 jobs. The unemployment rate ticked down slightly to 4.3% from 4.4%, while the labor force participation rate edged up to 62.9% from 62.8% during the month.
Average hourly earnings meanwhile increased by 9 cents.
The jobs numbers come on the heels of a report Wednesday from payroll processing firm ADP, which revealed that 178,000 private sector jobs were added in July, below economists' expectations of 185,000.