I was reading the latest Employment Situation release from the BLS this week, and it reinforced something I’ve been seeing across teams and clients: the labor market is still moving, but it’s doing so with more “friction” than the headline numbers suggest. What stood out to me is how easy it is to over-index on a single figure, one month of job gains, one shift in the unemployment rate, one industry’s momentum, you miss the more operational question: how stable is demand for