Employers added 943,000 jobs in July, the highest monthly tally since August of last year. Unemployment is down and wages are up as the labor market tightens further, extending its recovery from the pandemic's initial, very deep losses.

To parse the new data, Sam Chandan is joined by Dr. Marianne Wanamaker, Professor of Economics at the University of Tennessee Knoxville's Haslam College of Business, Executive Director of the Baker Center for Public Policy, and former Chief Economist for the Domestic Economy at the White House Council of Economic Advisors, where she was also the nation's senior-most labor economist.

The monthly labor market analysis is produced in collaboration with LaborIQ by ThinkWhy, a leading provider of analytical tools for data-driven recruiting, hiring, and compensation planning.

To learn more about the Urban Lab, visit SamChandan.com and follow Sam Chandan on Twitter at SamChandan.