Job losses in July reveal weakening U.S. labor market

The U.S. economy lost 23,000 jobs in July, signaling trouble in the labor market. And with wages only rising 3.2% from a year ago and inflation at 3.5%, Americans' paychecks aren't keeping up with prices. NBC News' Brian Cheung and Navy Federal Credit Union chief economist Heather Long break down the numbers and explain what they tell us about the economy.

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