Everyone's freaking out about June payrolls coming in at 57k — half what people expected, way under May's revised number. Honestly? I thought it'd go the other way.

But here's the thing nobody wants to hear: percentages matter more than raw numbers. Central bankers will tell you this themselves. Everything's relative.

And unemployment actually dropped. So like... where's this "softening labor market" narrative coming from? Doesn't add up to me.

Feels like people see one number they don't like and suddenly it's doom. Maybe zoom out a bit.