The labor market pulled back slightly in July as the U.S. economy created 209,000, according to the latest data from the U.S. Labor Department.

The Labor Department also reported that the unemployment rate rose to 6.2%, from the previous level of 6.1%.

Optimism was high heading into the report, especially after Wednesday when the Commerce Department said the advance reading of the country’s gross domestic product expanded by 4% in the second quarter. However, economists were not expecting to see a repeat of June’s extremely impressive report.

According to consensus reports, economists were expecting to around 230,000 new jobs created last month.

Jim Wyckoff, senior analyst at Kitco.com said that the slightly weaker-than-expected report pushed gold higher; in the initial reaction, August gold was up $4.50 to $1,285.80.

June’s employment report was revised to 298,000, up from its initial report of 288,000. May's unemployment rate was also revised up to 229,000 from the previous level of 224,000.

Analysts and economists have also been keeping an eye on average hourly wages, which the department said edged up by one cent to $24.45. The report said that over the last 12 months average hourly wages have increased by 2%. The average workweek remained unchanged at 34.5 hours.

The participation rate edged up slightly in July to 62.9%, compared to June's reading of 62.8%.

Ahead of Friday’s data, on Wednesday, payrolls firm ADP released its monthly employment report, which showed that private companies created 218,000 jobs in July.

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