In the latest jobs report, out Friday, there’s some details to like and and some to be worried about. On the “maybe we should worry about this” side, the labor force participation rate — aka the percentage of Americans either working or actively looking for work — dropped to 62.4%, which is well off the recent highs of the past couple years.

The job market has stayed resilient, defying fears of tariffs causing a slowdown.

U.S. job growth moderated in May and the prior months were revised lower, indicating employers are cautious about growth prospects as they weigh the Trump administration’s economic policy. Nonfarm payrolls increased 139,