The U.S. Labor Department released the jobs report for the month of July, where the Non-farm payrolls showed that 117 thousand jobs were added in July compared with the prior revised estimate of 46 thousand jobs and well above estimates of 85 thousand, while the unemployment rate fell cheerfully to 9.1 percent from 9.2 percent.

Average hourly earnings rose 0.4 percent, compared with the prior flat reading and median estimates of 0.2%, while compared with a year earlier, average hourly earnings inclined by 2.3% from the prior revised estimate at 2.0% and up from median estimates of 1.9 percent. Average weekly hours remained unchanged at 34.3, as forecasted.