Sobering data from the Bureau of Labor Statistics’ (BLS) Job Openings and Labor Turnover Survey (JOLTS) is the latest evidence that Trump’s chaotic policies have wrecked the economy and stalled the job market. Job openings declined to 7.18 million in July, missing the consensus and signaling that labor demand continues to weaken under the Trump administration. Meanwhile, 7.24 million Americans were unemployed in July, the first time the U.S. economy has had more unemployed people than job openings since the pandemic era, according to Navy Federal Credit Union chief economist Heather Long.
Job openings took a hit across major sectors in the latest report:
- Health care & social assistance: DOWN 181K
- Retail trade: DOWN 110K
- Arts, entertainment & recreation: DOWN 62K
- State & local government: DOWN 56K
- Professional & business services: DOWN 56K
The late summer trend of poor economic data has spelled disaster on the horizon for the U.S. economy and financial pain for families across the country.
A survey of the nation’s supply executives in the Institute for Supply Management’s latest ISM Manufacturing PMI Report, economic activity in the manufacturing sector contracted in August for the sixth consecutive month. Even as new order growth climbed for manufacturing firms, it was completely negated by production contracting at a rate nearly equal to the growth in new orders.
In July, the Conference Board’s Leading Economic Index (LEI) declined by 0.1%, the seventh straight month that LEI has declined. In addition, LEI’s six-month growth rate remained negative, triggering a recession signal for the second straight month.
The Philadelphia Fed’s August manufacturing survey showed general activity plummeted from 15.9 to -0.3 in July, new orders fell, and shipments slumped. Manufacturing firms also reported a median increase of 3.5 percent in their own prices over the past year, up from 3.0 percent last quarter.
Published: Sep 3, 2025