Part 2/9:
As reported, the Bureau of Labor Statistics (BLS) released its Quarterly Census of Employment and Wages (QCEW) for the second quarter of this year. This dataset serves as the gold standard for labor market statistics due to its extensive sample size and meticulous methodologies. The update indicates that the labor market is showing signs of significant weakening, intensifying the fears of an impending recession, echoing sentiments expressed in numerous economic analyses leading up to this point.