The July non-farm payrolls report suggests the labor market may be weakening significantly. Employers added only 73,000 jobs, far below the 115,000 expected. More alarming are the massive downward revisions that eliminated 258,000 jobs from prior months.The unemployment rate edged up to 4.2% 2% while labor force participation fell to 62.2% its lowest since 2022. Long-term employment shot up by 179,000 bringing the total to 1.8% million and the number of new people entering the labor force but unable to find ...