The Fed's paying close attention to employment dynamics these days. Barkin's got his eyes on layoff patterns to spot shifts in how the job market's actually moving. Right now it's stuck in this odd groove—companies aren't hiring much, but they're also holding back on firings. That combination tells you something about where businesses stand on the economy. When you see layoffs picking up or hiring suddenly dropping, that's when you know the tune's changing. These employment signals matter because they ripple through everything—consumer spending, inflation expectations, and ultimately how central banks calibrate their next moves.