During June, employers created 850,000 new jobs, the best growth since August 2020’s 1.58 million. Leisure and hospitality led the way with 343,000 jobs. Better yet, unemployment rose to 5.9% from 5.8% as slightly more persons joined the labor market. Job creation totals a strong 3.25 million YTD, but employment remains 6.76 million below its pre-Covid-19 level. Hourly earnings rose an elevated 3.6% Y-o-Y. Taper talk will start relatively soon.