Job growth in the U.S. remains robust. In July, the economy added 215,000 people to non-farm payrolls.
If job growth continues at the current pace, 2015 will be the second strongest year for job growth since 1999, surpassed only by 2014.
The one disappointment in labor markets today remains the modest pace of earnings growth. We expect faster wage growth during the second half of 2015.