 I'm Pat Woodard, and this is Stifel Investor Insights. Stifel, where success meets success. Today, I'm joined by Michael O'Keefe, Stifel's Chief Investment Officer. Michael, the labor market has outperformed other sectors of the economy for some time now. How is it holding up more recently? Well, Pat, recall that we've been in a tight labor market, putting upward pressure on wages, stoking higher demand and firmer inflation. We recently got the non-farm payrolls report from the U.S. Bureau of Labor Statistics, or the BLS.