Job Openings Plummet to Pandemic-Low Levels, Signaling Labor Market Weakness

Job Opening Data Dips to Pandemic-Era Lows, Signaling Cooling Labor Market

September 3, 2025 — U.S. job openings fall to low levels. Recent data shows a drop seen only since COVID began. This change points to a labor market that now slows down.

The Bureau of Labor Statistics released the latest Job Openings and Labor Turnover report. The report shows job listings near 7.18 million for July. This is only the second time since 2020 that openings fall under 7.2 million. The similar drop last occurred in September 2024 when numbers sat just above 7.1 million.

Key Highlights:

July job openings: 7.18 million
Economists’ expectation: about 7.4 million (from a Dow Jones poll)
Lowest reading: since September 2024
Comparison: levels seen in the early pandemic days

This drop did not meet economists’ predictions. The report shows hints that hiring may slow after many months of signs that job offers were dying down.

Heather Long, Chief Economist at Navy Federal Credit Union, noted, "This marks a turning point in the labor market. It is a crack in the system." She added, "The data proves that the job market is frozen and it is hard for anyone to find work right now."

What This Means for the Economy

Fewer job listings can signal that employers act with more care in uncertain times. Fewer openings may slow wage rise and job gains. A slowing labor market could also affect how much consumers spend, a key part of economic growth.

Investors and policymakers will study the next reports to gain a clearer view. Key upcoming data include:

Weekly jobless claims report (due Thursday): It gives a near-term look at layoffs and unemployment.
Monthly jobs report (due Friday morning): It shows a full picture of employment, job loss, and wage shifts across the nation.

Ongoing Labor Market Watch

The labor market has stayed in focus since the pandemic. COVID first shook jobs in many ways. Now, the drop in job openings hints that the market may grow more slowly or start to settle. As new numbers come in, experts will watch these trends to adjust their plans on hiring, investing, and economic policy.

Stay informed with the latest on the U.S. labor market and economic updates by subscribing to CNBC Pro and the Investing Club.

For more detailed financial news and analysis, visit CNBC or follow expert coverage on LinkedIn and Twitter.

Full money-growing playbook here:
youtube.com/@the_money_grower