U.S. employers adding 163,000 jobs in July was a hopeful sign for many, including investors. Stocks rose on Wall Street even though the figure wasn’t enough to drive down the jobless rate.

The U.S. Labor Market reported that the unemployment rate rose to 8.3 percent from 8.2 percent in June.

But Barry Bluestone, Director of the Dukakis Center for Urban and Regional Policy at Northeastern University said the latest report is a good sign for the U.S. and for Massachusetts.