5 The broad range of data showing a very strong labor market indicate that this isn’t a mismeasurement issue. Turning to GDP, there are signs of slowing in economic activity.
The Commerce Department estimates that there was a modest contraction in real GDP for the first quarter of the year, and “nowcasting” projections of economic activity, such as the Atlanta Fed’s  The measure of job availability is reported by the Conference Board, which calculates the difference between the share of survey respondents who report that jobs are plentiful and the share who report that jobs are hard to get.