July Jobs Report

#Jobs — Lower than expected, but steady growth continues.

Gain of +187,000 non-farm payroll jobs, vs. expected gain of 200K
Unemployment down by 0.1 to 3.5%, vs expected no change
U6 unemployment 6.7%, down by 0.2
Labor force participation at 62.6% for 5th straight month
Average hourly earnings up by 0.4%; 4.4% increase over the year, stronger than expected

May jobs revised down by -25K to +281K
June jobs revised down by -24K to +185K