JUDY WOODRUFF:

July was the second straight month of solid job gains in the United States.

The Labor Department says employers added 209,000 jobs last month. That dropped the unemployment rate down to 4.3 percent, tying a 16-year-low. The good report pushed stocks higher on Wall Street. The Dow Jones industrial average gained 66 points to close at 22092. That is its eighth straight record high.

Let's get an assessment about the job market and the stock market and what it means for millions of Americans.

I'm joined by Mark Vitner, managing director and senior economist at Wells Fargo.

Mark Vitner, welcome to the program.

So, just how good a jobs report is this?