Labor pains continue
Labor data for August continued to languish with payroll gains missing to the downside and the unemployment rate ticking up. On the bright side, net revisions for the prior two months was only -21k (compared to -258k in the previous print), but overall, this was another soft set of data from the labor market. Out of the 14 industries listed, nine experienced net job losses in August. As usual, healthcare and private education hiring led the way, adding 46k jobs, but this was the lowest total for this category since December 2022. Data on job openings earlier this week indicates that job op...