The U.S. job market beat expectations, with the nation adding 117,000 net jobs in July, a number that beat the forecast of economists, who were expecting no more than 90,000. And it was an overwhelming relief for investors, who just lived through two of the most brutal weeks in Wall Street history.
Workers were paid more, too. Average hourly wages showed the biggest monthly gain since 2008. More jobs and better pay means people have more cash to spend, helping the economy grow.
(READ the AP report from ABC News)