“The labor market has moved front and center for the Federal Reserve, highlighting its fragility and risk to the economy,” the Wall Street Journal reports“The good news is that unemployment remains low, and employers haven’t been all that interested in laying people off. The bad news is that companies haven’t been all that interested in hiring, either.”“This precarious situation means even a relatively small increase in layoffs could lead the economy to start shedding jobs—a process that can be difficult to reverse once it starts.”