The U.S. economy added 163,000 jobs in the month of July, which was better than what economists predicted. But, the unemployment rate rose to 8.3%.
Presidential rivals Barack Obama and Presidential Candidate Mitt Romney were quick to respond to the jobs report by holding public events at the same time Friday.
"I think it's an extraordinary failure of policy, a failure of leadership, and I think it's a moral failure for a country as successful and prosperous as our own to go now four years in a mode which feels to many people as a recession," Romney said after a campaign event in Las Vegas.
Pres. Obama touted the amount of jobs created in his tenure. "We have now created 4.5 million new jobs over the last 29 months and 1.1 million new jobs this year." Obama continued, "Those were our neighbors and family members finding work and the security that comes with work."
OutFront tonight: CNN Contributor John Avlon, Contributing Editor for Vanity Fair James Steele , and Fmr. Director for the Congressional Budget Office Douglas Holtz-Eakin.
July jobs report: Hiring picks up, unemployment rises
Businesses stepped up their hiring in July, but the unemployment rate ticked higher anyway.
Employers said they added 163,000 jobs in the month, according to a Labor Department report released Friday, much better than the 95,000 jobs economists had forecast.
But at the same time, the unemployment rate unexpectedly rose to 8.3% as households claimed they lost 195,000 jobs.
The government's monthly jobs report comes from two separate surveys: one that looks at employer payrolls, and the other which questions households. Those two reports went in opposite directions in July, confusing the overall reading on the job market.