US unemployment hits seven-year low after adding 223,000 jobs in June

• Rate of 5.3% is level that government considers full employment
• Number of added jobs falls slightly short of expectations

The US unemployment rate has fallen to 5.3% - the lowest in seven years - after the economy added 223,000 jobs in June.

The drop in the unemployment rate from 5.5% in May to 5.3% June takes it to the level that the US government considers full employment, and heightens expectations that the Federal Reserve will raise interest rates as soon as September.