In a worrying sign for the health of the US economy, new data shows that job openings have plummeted to their lowest level in nearly five years. This sharp decline in labor demand suggests that the job market is cooling and casts doubt on President Trump's claims of an economic resurgence.
According to the Labor Department's closely watched Job Openings and Labor Turnover Survey (JOLTS), businesses and government agencies posted just 7.1 million open jobs at the end of November. That's a steep 303,000 drop from the previous month and the fewest job openings since September 2024, ABC News reports.
A "No-Hire, No-Fire" Economy
What this really means is that employers are becoming increasingly reluctant to add new staff, even as the economy continues to grow at a solid clip. As US News & World Report notes, the "low-hire, low-fire" job market has taken hold, with workers enjoying some job security but those out of work struggling to find new opportunities.
The bigger picture here is that the labor market seems to be decoupling from the broader economic trends. While GDP growth remained strong in the second half of 2025, hiring has failed to keep pace. And with automation and AI increasingly displacing human workers, that pattern may only intensify in the years ahead.
A Warning for Trump
This jobs report is undoubtedly bad news for the Trump administration, which has staked much of its political capital on the strength of the economy. Trump has repeatedly touted low unemployment and a booming stock market as proof of his economic prowess, but his signature policies like trade tariffs have failed to deliver the promised economic miracle.
With the 2026 election on the horizon, the president will be under intense pressure to reignite job growth and restore the public's faith in his economic stewardship. But as markets remain volatile and hiring remains sluggish, Trump may find it increasingly difficult to convince voters that his economic record is worthy of another four years in office.