Labor market recovers, but hold the confetti
But hold the confetti. The labor market also showed the beginning of some cracks, as the unemployment rate rose to 3.7% from 3.5% and 328,000 fewer people were employed. The labor participation rate fell for the second month in a row, and unemployment ticked up for nearly every demographic group except teenagers. This evidence suggests that while employers are still hiring, the pace of hiring is slowing.
The upshot is that the job market is headed for harder time as the
The mixed jobs news is unlikely to deter the
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