NEW YORK (MainStreet) The Bureau of Labor Statistics reports Friday that July nonfarm payrolls rose by 209,000 and the unemployment rate increased to 6.2%. The Wharton School professor Peter Cappelli tells TheStreet's Joe Deaux that while the report came in below Wall Street expectations, it was encouraging data. This was the sixth straight month the economy has added more than 200,000 jobs. Cappelli says the slight miss wasn't too disappointing, because prior month revisions recently have been upwardly revised. June's revision rose to 298,000 payrolls, and May revisions pushed the number up to 229,000.
--Written by Joe Deaux for MainStreet