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Joe discusses the recent employment data, noting that the Federal Reserve is expected to raise its policy rate by 25 basis points in May. The unemployment rate remains low at 3.5%, indicating a strong yet cooling job market. While this stability is desirable, it doesn't confirm that the Fed has reached a peak in its policies. Wage growth has decreased from 4.2% to a 0.3% year-over-year increase, suggesting a potential shift in inflation pressure and a near-term peak in the policy rate. However, demand for workers remains high across various service industries, maintaining a tight labor market amid ongoing inflation concerns.