The job market is cooling but still surprisingly strong. Is that a good thing?

A 'Now Hiring' sign is displayed outside a check cashing shop in Los Angeles on June 2, 2023. Employers added 209,000 jobs last month, slowing down from previous months but still marking respectable growth. (Mario Tama/Getty Images)

The country's job market is finally showing signs of cooling – but it may still be a tad too strong.

That may sound strange. In a traditional economy, a strong labor market would usually be a good thing, but it's not so positive in an economy that continues to struggle with high inflation.