Yep, that's labored breathing. It's hard to eat enough calories to do all the hard work to breathe, which is why he seems to be underweight. He probably is. You can add a little olive oil or cod liver oil to his diet (add it to some baby cereal) as a daily treat to add calories to his diet. Or you can supplement him with a daily dab of
nutristat/nutrical available from most chain pet stores. A vet visit is an excellent idea. Sounds like he may have an
upper respiratory infection. The vet can give you some antibiotics as well as a bronchodilator to help him breathe easier. If that doesn't help, he may have a
heart condition and there are meds that can help that as well. Definitely make that vet appointment.