■ The unemployment ratefell to 3.9 percent, from 4 percent.
"Right now, concerns about tariffs are just that: concerns", said Michael Gapen, chief US economist at Barclays Plc in NY.
The Bureau of Labor Statistics reported this morning that the economy added 157,000 jobs in July, while the unemployment rate inched lower, going from to 4% to 3.9%.
"Job gains occurred in professional and business services, in manufacturing, and in health care and social assistance" the report says.
The BLS figures contrast with those of payroll services firm ADP Inc., whose employment report issued August 1 stated that USA private sector employment increased by 219,000 jobs in July.
But paychecks grew only slightly - up 2.7 percent compared to the same time a year ago.
Average hourly earnings increased by 7 cents, or 0.3 percent, to $27.05.
At this stage in a record stretch of job growth that began in 2010, however, all eyes are on wages because they've been much slower to recover from the Great Recession.
"It is incredible that at this point in a recovery you are seeing growth that is on average faster than the previous two years", she reportedly said. The only time in the recorded history the rate was lower was in the 1960s.
Yet the trade fights didn't appear to impact hiring last month.
The decline in the jobless rate reflected a 284,000 decline in the number of unemployed people in the workforce, while the number of employed increased by 389,000.
In a statement on Wednesday, the Federal Reserve described a healthy picture of the U.S. economy.
"Small business owners are continuing to show that they're looking to hire and willing to pay more to hire the right employees", NFIB Chief Economist William C. Dunkelberg said.
Last month, the manufacturing sector added 37,000 jobs.
"Congress and the administration have taken important steps in recent weeks to tackle this challenge, but this jobs report is a reminder that more work needs to be done through partnerships with the private sector to solve the workforce crisis", she said.
The Fed's preferred inflation measure, the personal consumption expenditures (PCE) price index excluding the volatile food and energy components, increased 1.9 percent in June.