Jobs report: hiring up, but so is unemployment

(CNN) - The U.S. Department of Labor released its July jobs report, and it's delivering mixed news.

The report shows the U.S. economy added 163,000 jobs in July, but the unemployment rate rose to 8.3 percent because 195,000 jobs were lost.

Economists had predicted employers would have only added 95,000 jobs, and that the unemployment rate would hold at 8.2 percent.

Revisions from May and June show the economy gained 6,000 fewer jobs than originally thought.

Approximately 12.8 million Americans are unemployed, and 40 percent of them have been out of work for six months or longer.

Two surveys make up the Department of Labor's monthly jobs report: a look at company payrolls and the other questions households.

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