An article summarized by the Associated Press:
U.S. job openings fell to 7.08 million in August, down from a revised 7.34 million in July and below economists’ expectations of 7.2 million. The Labor Department’s JOLTS report also showed that layoffs declined, while the number of workers quitting their jobs was little changed. Hiring increased slightly, suggesting employers are still adding workers, but at a relatively slow pace.
The labor market remains relatively stable despite higher energy costs tied to the fighting with Iran. Employers have added an average of about 80,000 jobs per month in 2026, a significant improvement from the roughly 9,700 monthly average in 2025. However, hiring is still well below the pace seen in 2023 and 2024, when employers added about 166,000 jobs per month on average.
The upcoming September jobs report is expected to show 95,000 new jobs and an unemployment rate of around 4.1%, according to FactSet’s survey of forecasters. Overall, the data point to a labor market that is holding up but has cooled considerably from the post-pandemic hiring boom. Employers aren't laying off large numbers of workers, but they also aren't hiring at the pace they once were.
