The August employment report was as bulletproof as it gets. The headline gain of 162,000 jobs created was triple expectations of 55,000 jobs. There were substantial upward revisions to the prior two months totaling 21,000, the unemployment rate was stable at 4.1%, the U-6 “underemployment rate” fell from 7.9% to 7.7%, and to put a cherry on top, the labor force participation rate, which is the percentage of the population that is actually driving the economy, rose to 61.6% from 61.4% after nine consecutive months of losses.