[...] the employment growth may raise alarms for investors, some of whom fear the Federal Reserve might increase short-term interest rates sooner than expected. In addition to reporting July's solid gain, the government on Friday revised up its estimate of the job increases in May and June by a combined 15,000. In the April-June quarter, the economy expanded at a seasonally adjusted 4 percent annual rate after a steep 2.1 percent contraction in the first quarter. Americans stepped up their spending, particularly on autos, furniture and other big-ticket items. The Conference Board's consumer confidence index jumped to its highest level in nearly seven years in July.