Ho hum…another gre…

Ho hum…another great economic indicator.

U.S. employers added 207,000 workers in July, more than forecast, suggesting companies are gaining confidence as the economy picks up steam in the second half. The jobless rate held at 5 percent, matching an almost four-year low.

The increase in payrolls exceeded the median estimate of a 180,000 rise and reflected more jobs at retailers, auto dealers and financial services firms. Employment rose by 166,000 jobs in June, more than previously reported, the Labor Department said today in Washington.

U.S. Treasury securities fell after the report suggested Federal Reserve policy makers will extend their series of interest rate increases to forestall an acceleration of inflation. Hourly earnings rose 0.4 percent last month, the most in a year, which economists said will support spending and the economy even as higher gasoline prices take a bigger chunk out of workers’ paychecks.

Predictably, Atrios was pessimistic.

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