Job Growth an Anemic 121,000
Payroll employment rose by 121,000 for the month of June. As I have noted before, this is not a great number in terms of growth in the payroll jobs survey. And while this number is at best so-so, the unemployment rate remaining at a 4.6% is pretty good news. Such an unemployment rate is pretty low by historical standards. Still, take this news in context of other things like high oil prices, higher interest rates, and the slow down in the housing market.