A sharp decline in small business sentiment signals economic headwinds ahead, with employment and expansion plans suffering most.

Unemployment is low, job openings are stabilizing, and wage growth is moderating. But the aggregate numbers mask dramatic shifts by industry and skill level.

Labor scarcity in the skilled trades has created unprecedented wage growth. Market data reveals the structural factors behind $80K+ compensation packages.

Labor market deceleration raises questions about Fed policy trajectory as employment growth falls short of economist expectations.