WASHINGTON, D.C. (WOWO): The nation's jobless rate held steady in July. 

The unemployment rate stalled at 5.3% and added 215,000 jobs last month. Bankrate.com's Mark Hamrick says that simply shows that the economy didn't stumble nor accelerate last month. 

He says job gains have been enough to accommodate new entrants into the nation's workforce even though the pace is slow and wage improvement remained modest at 2.1% in July. Hamrick adds that an increase in the federal minimum wage isn't likely given the log jam in Washington D.C. 

He says the recovery has helped the rich and the poor, but continues to elude the middle class. Hamrick says the nation added 15,000 manufacturing jobs in July, but homebuilding remains sluggish and has yet to return to pre-recession levels. 

He adds that the Federal Reserve may raise interest rates in September, but that would only come minus any “economic surprises.”