In a worrying sign for the health of the U.S. economy, the number of job openings has plummeted to a 14-month low, according to the latest data from the Labor Department. This sharp decline in labor demand comes as a stark contrast to the positive economic growth figures touted by the Trump administration.
A "No-Hire, No-Fire" Job Market
The Job Openings and Labor Turnover Survey (JOLTS) revealed that businesses and government agencies posted just 7.1 million open jobs at the end of November, down from 7.4 million the previous month. This represents the fewest job openings since September 2024, and the second-lowest level in nearly five years.
What this really means is that employers are growing increasingly reluctant to bring on new hires, even as the economy has shown signs of strength. As Reuters reports, the job market appears to be in a "no-hire, no-fire" state, with companies holding onto their existing workers but shying away from expanding their payrolls.
Hiring Slowdown Despite Economic Growth
The sluggish hiring environment stands in stark contrast to the broader economic data. The U.S. economy grew at a robust 4% annualized rate in the third quarter of 2025, the latest figures available, as reported by the Associated Press. Economists expect growth to have remained solid, though slightly slower, in the final three months of the year.
The bigger picture here is that the divergence between economic growth and hiring raises concerns about the sustainability of the expansion. If businesses continue to rein in job creation, it could eventually drag down consumer spending and broader economic activity. And as ABC News notes, there's also the possibility that automation and AI could enable growth without many new jobs being created.
Implications for Trump's Economic Agenda
The weakening job market poses a significant challenge for President Trump, who has staked much of his political capital on the strength of the economy. With the 2026 election cycle looming, a prolonged hiring slowdown could undermine voter confidence in Trump's economic stewardship and his central campaign promise to "make America great again."
As the administration grapples with these troubling labor market trends, it will be critical for policymakers to address the underlying factors inhibiting job creation - whether it's trade tensions, regulatory uncertainty, or the accelerating pace of technological change. Failure to do so could jeopardize the president's economic legacy and his path to a second term.