Hiring jumped in July as US employers added the most jobs in five months, alleviating some fears that the economy was sliding back towards recession.

Even though the unemployment rate ticked up a tenth of a point to 8.3 percent, economists and markets were cheered by stronger than expected job gains. Employers boosted payrolls by 163,000 jobs last month, the most since February and more than double the 64,000 added in June, the