The Labor Market Weakens a Hair

Not disastrous, but not good news:

Employment Situation Summary: Nonfarm payroll employment rose by 121,000 in June, and the unemployment rate was unchanged at 4.6 percent, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. Employment continued to trend upward in several service-providing industries and in mining. Average hourly earnings rose by 8 cents in June.

Real wages continue to stagnate.