“Though layoffs continue to be rare, a hesitancy to hire and a reluctance to replace departing workers led to job losses last month. Still, the slowdown in hiring has yet to disrupt pay growth.”

“Job losses in professional and business services, and education and health services led the decline. Leisure and hospitality, and manufacturing showed gains.”

“Year-over-year pay growth for job-stayers was little changed for June at 4.4 percent compared to 4.5

percent in May.”