June CPI: Core Inflation Cools, But Headline Volatility Threatens Labor Momentum
Inflation cooled significantly in June to 3.5% year-over-year growth. Following a three-year high in May, we just saw the largest one-month CPI decrease in over six years, at -0.4%. This cooling was primarily driven by a sharp drop in energy prices, which served as the largest contributor to the overall decline.
June Jobs Report: A Labor Market Holding Its Breath
The June Employment Report came in weaker than expected, with only 57,000 jobs added to the economy. Inflation has ticked back up and is slowing down the momentum that had been building over the past few months.
May Job Openings Hold Steady, But Hiring Is Still Catching Up
The May Job Openings and Labor Turnover Survey (JOLTS) shows that employers are feeling optimistic about the future, with job openings staying steady at 7.6 million. But that optimism has yet to translate to action, with hires still at 3.3%, flat with last month given revisions.
May Jobs Report: Job Gains are Back, But Wages Aren’t Keeping Up
The May Employment Report confirms that the labor market is gaining traction. The economy added 172,000 jobs in May, unemployment held steady, and underemployment ticked down as more workers found the roles and hours they were looking for. Labor force participation remains low but stable. Taken together, the data suggest that energy is returning to a labor market that had been largely stagnant just in time for summer.
April Job Openings Surge to Near Two-Year High, But Hiring Pulls Back
Job openings surged to 7.6 million in April, the highest level in nearly two years, but hiring pulled back to a 3.2% rate. The gap between employer demand and actual hiring points to a widening skills mismatch — and structural forces like an aging workforce and reduced immigration mean it won't close quickly.
April Jobs Report: The Labor Market is Finding a New Normal
The April Employment Report shows a stabilizing trend, with 115,000 jobs added and unemployment holding at 4.3%. Declining labor force participation means fewer jobs are needed to maintain that rate. Excluding February's weather- and strike-related blip, the first four months of 2026 suggest the mid six figures may be the labor market's new normal.
March Job Openings Flat, but Hires Increase
The March Job Openings and Labor Turnover Survey (JOLTS) reported that while the level of job openings remained relatively unchanged, employer activity increased, as hires bumped up by 655,000 in March, taking the hires rate from the February slump of 3.1% back to 3.4%, matching the highest level since early 2024.
March Jobs Report: Back on Track, But With Caution
The March Employment Report reversed course from the February dip, and posted a large gain: an increase of 178,000 jobs in March blew past expectations to the highest gain since December 2024. Unemployment ticked back down to 4.3% as labor force participation fell to 61.9%. While the headline numbers are stronger than expected, a peak under the hood presents a shrinking labor force and continued challenges for those looking for work.
February Job Openings Fall, Hires Lowest Since April 2020
The February Job Openings and Labor Turnover Survey (JOLTS) reported a decrease in job openings from revised January numbers. A mix of severe weather and healthcare strikes led to the lower than expected employment growth in February, and the lowest level and rate of hires since April 2020. Aside from the 2020 dip, the hires level has not been this low since 2014, when the labor market was still rebuilding after the Great Recession. While unemployment in today’s market remains low, the stall in hiring, coupled with a delay in retirement activity, is leading to a locked-out market for many new entrants.
January Jobs Report: Early Signs of Potential Stabilization Emerge
The January Employment Report data presents a nuanced picture of an economy potentially finding its footing after a sluggish year. While the addition of 130,000 jobs is modest by historical standards, it represents the strongest monthly gain since late 2024. Importantly, new annual revisions provided a clearer picture of the 2025 landscape, with last year’s total gains recalibrated from 584,000 to 181,000. With the unemployment rate ticking down to 4.3% and a slight rise in December hires, the significant slowdown of 2025 may be showing early signs of giving way to a renewed warming of hiring activity.
December Job Openings Widen the Gap Between Seekers and Opportunities
The December Job Openings and Labor Turnover Survey (JOLTS) report confirms a trend that many job seekers are already feeling: the labor market is becoming increasingly difficult to navigate. Job openings fell to 6.5 million in December—a decline of nearly one million from a year ago and the lowest level in over five years. While the unemployment rate has shown signs of stabilizing, the environment remains highly competitive, with roughly one million more unemployed individuals than available job openings.
December Jobs Report: Healthcare Masks a Flatlining Labor Market
The December Employment Report caps off a historically weak year for the labor market, with the economy adding a meager 50,000 jobs, barely enough to keep pace with population growth. With only 584,000 net jobs added across all of 2025, the labor market has deteriorated dramatically from 2024's 2.0 million job gain, representing a 71% year-over-year decline in job creation.
November Job Openings Slip, Retirements Hit Lowest Level
The November Job Openings and Labor Turnover Survey (JOLTS) report shows that job openings fell once again in November to 7.1 million. Compared to last November, the US labor market now has over 800,000 fewer job openings, with over 700,000 more unemployed individuals. It appears the bump in October job openings was more of a blip with data collection than a pivot in market direction. For now, the labor market shows more signs of softening than of recovery.
October Job Openings Rise, Hinting at a Labor Market Rebound
Since the last official release of the Job Openings and Labor Turnover Survey (JOLTS) report in August, the October JOLTS report suggests the labor market might be starting to turn around. Job openings were up 6.1% in October, from August, and up 8% from a year ago. This marks the first significant annual growth in job openings since July 2022.
August Job Openings Show a Mismatched Market
The August JOLTS report reveals the labor market freeze may soon start to thaw.
Uneventful JOLTS Report Predates Federal Government Hiring Freeze and Layoffs
The January Job Openings and Labor Turnover Survey (JOLTS) report was largely uneventful, painting a picture of a labor market that remains steady, at least for now.