Payrolls Rise Sharply in July

Washington, DC, Aug. 3, 2012 -- Non-farm payrolls grew by 163,000 workers in July, the Labor Department said.

This is the fastest pace of growth since February.

Economists had expected a 100,000 increase.

The gain in July was concentrated in the service sector. Factory employment also increased.

Jobs increased by a revised 87,000 in May and by 64,000 in June.

Despite the better-than-expected report, the unemployment rate rose from 8.2% to 8.3%, which may indicate that more people have started looking for work again.