Better US job data hints at Fed rate hike

US employment rose at a solid clip in July and wages rebounded after a surprise stall in the prior month, providing signs of an improving economy that could open the door wider to a Federal Reserve interest rate hike in September.

Non-farm payrolls increased 215,000 last month as a pick-up in construction and manufacturing employment offset further declines in the mining sector, the US Labour Department said yesterday.

The American unemployment rate held at a seven-year low of 5.3%.