What Does The Latest Jobs Report Imply About Inflation?

According to the newest jobs report, the labor market is strong and wages are growing. Joe Brusuelas says that job creation will slow toward the break-even rate of approximately 75K per month, which is necessary to keep employment stable given demographic changes. Will margins continue to expand and will earnings continue to improve? Brusuelas adds that an easing inflation implies that U.S. households are experiencing wage increases that are more than 1% above the inflation rate.