Is the Great Resignation Officially Over? Job Openings Plummet!

Job Openings Dip to Pandemic-Era Lows, Sparking Labor Market Concerns

The U.S. labor market is showing signs of cooling as job openings in July dipped to levels rarely seen since the height of the Covid-19 pandemic. This development has fueled concerns about a potential slowdown in hiring and overall economic activity.

According to the latest Job Openings and Labor Turnover Survey (JOLTS) from the Bureau of Labor Statistics, released Wednesday, the number of job listings stood at approximately 7.18 million in July. This is only the second time since the end of 2020 that the figure has fallen below the 7.2 million mark, signaling a potentially significant shift in the labor landscape.

This latest figure represents the lowest level since September 2024, when just over 7.1 million openings were reported. While there was a slight dip last year, the current levels of job openings are reminiscent of the period when the pandemic was causing widespread disruption to the U.S. economy and workforce.

Here's a quick breakdown of the key takeaways:

• July job openings totaled 7.18 million.
• This is the second time since 2020 that openings have fallen below 7.2 million.
• The last time openings were this low was September 2024.
• These numbers echo the economic upheaval caused by the Covid-19 pandemic.

The decline in job openings could be attributed to a variety of factors, including:

• Reduced employer confidence: Businesses may be becoming more cautious about hiring due to concerns about the economic outlook.
• Increased automation: Some companies may be investing in automation technologies to reduce their reliance on human labor.
• Shifting labor force dynamics: Changes in demographics and worker preferences could be affecting the demand for certain types of jobs.

While it's crucial to avoid drawing definitive conclusions from a single month's data, the downward trend in job openings warrants close attention. Economists and policymakers will be closely monitoring future data releases to assess the extent and potential impact of this cooling trend on the broader economy.

The news of falling job openings serves as a reminder that the economic recovery from the pandemic is an ongoing process, and that challenges remain. It underscores the importance of proactive policies and strategies to support job creation and ensure that the benefits of economic growth are widely shared.

Tags: Job openings, labor market, US economy, employment, hiring, Covid impact, job data, new york jobs, labor turnover, July jobs

Source: https://www.cnbc.com/2025/09/03/job-opening-data-falls-to-levels-rarely-seen-since-pandemic.html