U.S. Unemployed Outnumber Job Openings for First Time Since 2021

September 7, 2025

By Ayinde Adeleke

For the first time in more than four years, the United States has more unemployed workers than available job openings, according to new government data.

Figures from the Bureau of Labor Statistics’ Job Openings and Labor Turnover Survey (JOLTS) showed that in July there were 7.18 million job openings, compared to 7.23 million unemployed people. This puts the ratio of openings to job seekers at 0.99, the lowest since April 2021.

The development reflects a slowdown in the U.S. labor market, which added only 22,000 jobs in August, far below expectations. The unemployment rate also rose to 4.3 percent, the highest level in nearly four years.

Analysts say the decline in job opportunities signals growing weakness in the economy as businesses reduce hiring in response to high borrowing costs and slowing demand. The imbalance is expected to increase pressure on the Federal Reserve to consider interest rate cuts in order to stimulate growth.

Economists also warn that with fewer job openings, unemployed workers may face longer search times and slower wage growth, particularly in sectors already experiencing cutbacks.