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America's labor market appeared to be gaining momentum this spring. The latest data makes that rebound look much less convincing.
Why it matters: The report isn't as bad as the headline suggests, but the broader picture is still one of a labor market that is less robust than it seemed.
What they're saying: "The stagnant summer air finally caught up with the labor market in July, as job growth slipped back into negative territory and confirmed that spring's optimism was built on shaky ground," Glassdoor chief economist Daniel Zhao wrote Friday morning.
