Nonfarm payroll up 163,000 in July, rate at 8.3%

WASHINGTON (MarketWatch)
Job growth picked up a bit in July, the Labor Department said Friday
Total nonfarm payrolls increased by 163,000, higher than the 100,000 gain expected by Wall Street economists
The unemployment rate ticked higher to 8.3% in July from 8.2% in the previous month
This is the highest rate since February
Economists forecast the unemployment rate to hold steady at 8.2%
Average hourly earnings increased 2 cents, or 0.1% to $23.52
Earnings are up 1.7% in the past year
The average workweek was unchanged at 34.5 hours