Understanding July’s jobs report

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ST. LOUIS (KPLR) – The U.S. Department of Labor released the July jobs report Friday morning. U.S. employers added a solid 215,000 jobs last month, signaling a steady rise in the job market, and providing a key piece of evidence for the Federal Reserve in deciding whether the economy can withstand higher interest rates as soon as September.

The report also shows the unemployment rate held at a relatively low 5.3 percent for a second straight month. Peter Lazaroff from PlanCorp visits KPLR 11 to explain what this all means.