America is in a Serious Jobs Slump

For the first time in more than four years, there are fewer open jobs in the U.S. than there are job seekers. CNN: 'This is a turning point for the labor market,' Heather Long, chief economist at Navy Federal Credit Union, wrote Wednesday. 'It's yet another crack.'

The number of job openings fell to an estimated 7.18 million at the end of July, according to Bureau of Labor Statistics data released Wednesday. Job openings not only are at their lowest level in 10 months, but they're also below the number of unemployed workers (at 7.2 million) for the first time since April 2021.

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