The Labor Market's Unexpected Turbulence: A Wake Up Call The latest jobs report has economists buzzing with concern over an unexpected downturn in the US labor market, but this is no minor blip on the radar.
Behind the numbers lies a nuanced story of shifting demographics and a slowing economy that's leaving policymakers scrambling for answers.
The decline in government employment accounts for much of July's headline weakness, but several economists point out that this is largely due to a seasonal quirk in local government education payrolls that tends to reverse itself by fall.