Job Market Shows Ongoing Strength and Stability Despite Some Slowing Momentum

January's jobs report showed strong job growth that exceeded expectations, with 353,000 jobs added and upward revisions to previous months' data.

Wage growth was also better than expected, though there are some worrying signs like fewer hours worked that could indicate issues.

The job market seems to be settling into a more "normal" state compared to the volatility of the pandemic period. Things are drifting back "toward orbit."

It's not as easy to quit jobs and get big raises now. The red-hot opportunity to upgrade jobs was probably a year ago.

While things could still turn negative, the current job market situation seems sustainable for now rather than on the brink of breakdown.