Does the phrase "scripting language" have any hard technical meaning or is it just another subjective label?

I've always informally thought of a scripting language as anything the executes by interpreting source code or bytecode (lacking JIT compilation).

This might make sense if you contrasted "scripting" to something a little more specific, like "system" development. However, creating a "programming" v. "scripting" dichotomy makes no sense IMHO. Ruby & Python are programming languages that can also be considered, informally, scripting languages.