This was another mixed employment report. The headline increase of 171,000 increase in payroll employment and 410,000 rise in employment reported in the household survey appeared strong. But other signs of weakness appeared within the report.
The 184,000 increase in private payroll employment was the strongest since February.
But the work week fell from 33.7 to 33.6 and the index of aggregate hours works fell -0.1 from 103.8 to 103.7. Relative to the trend establish early in this cycle, hours worked has been weak for several months..
Moreover average hourly earnings was essentially unchanged as it fell from $19.80 to $19.79..
The growth in average hourly earnings plunged to 1.2%, an all time record low.
Average weekly fell from $667.26 to $664.94 and the year over year growth rate was only 1.2%, the smallest gain in this cycle.