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the country going in a different direction now? no, the labor market, the job market was very strong all the way through july. that s a fact. half million new jobs in the month of july. smaller and lower unemployment rate, 3.5%. okay, that s july. there are every sign now that layoffs are beginning to increase. we ve seen layoffs on wall start, layoffs at wal-mart, and i think this layoff trend could get worse because the federal reserve is going to raise interest rates. they are raising interest rates. that squeezes employers and inflation is rising, that squeezing employers and the result is layoffs. i think we re right at the cusp where the labor market goes from being fairly strong to where it s weakening. that s where we are now. carly: some people responded to that number, over 500,000 jobs added and saying that s proof we re not in a recession. well, it is hard to argue that we re in a recession when you create 500,000 new jobs in a month. i would say we re in a slow down

Labor marketJob marketUnemployment rate3 5Interest ratesLayoff trendWall startWal martA joey carly