Unemployment numbers been running in historical low since covid and along with the demographic shift with boomer retiring.

Young workers entering the work and some feds are hurting but these numbers are barely impacting unemployment

https://wolfstreet.com/2025/08/01/slowing-supply-of-immigrant-labor-slowing-job-growth-keep-the-job-market-in-balance-and-the-unemployment-rate-low-push-up-wages-powell-talked-about-it/

Federal government jobs (civilian employment) shrank by 12,000 in July, to 2.93 million jobs, the sixth month in a row of declines. Since January, federal government civilian headcount has dropped by 84,000.

That’s 84k in labor force that’s pushing 170m

Middle level hiring is brisk with expectation of tech along anything blue collar from factory work to services. This of course is regional just like housing market.