US economy added 215,000 jobs in July; unemployment 5.3 pct.

WASHINGTON (AP) — U.S. employers added a solid 215,000 jobs in July, signaling a steadily rising job market and likely nudging the Federal Reserve closer to raising interest rates in September.

The Labor Department also said today the unemployment rate stayed at a relatively low 5.3 percent for a second straight month.

Monthly job growth has averaged 211,286 so far this year, indicating that employers are confident that the six-year recovery from the Great Recession will sustain strong consumer demand and require more workers.

July's job growth roughly matched expectations, and the early reaction on Wall Street before trading opened was muted. The Standard & Poor's 500 stock index slipped 0.2 percent in morning trading, and U.S. government bond yields fell slightly after an initial spike.

"Another solid jobs report suggests the economy is gaining strength and keeps the Fed on track to raise rates as early as the next meeting" in September, Sal Guatieri, senior economist at BMO Capital Markets, said in a research note.

Hiring has remained robust even though the economy's overall growth rate has been subpar and pay raises have been modest for many workers. Average hourly earnings in July increased just 2.1 percent from a year earlier.