\n<\/p>\n
A jobseeker holds a brochure during a NYS Department Of Labor job fair at the Downtown Central Library in Buffalo, New York, US, on Wednesday, Aug. 27, 2025. <\/p>\n
Lauren Petracca | Bloomberg | Getty Images<\/p>\n<\/div>\n<\/div>\n<\/div>\n
Employment opportunities hit their lowest level in more than 4\u00bd years as October came to a close and the government shutdown dragged on, according to data from jobs site Indeed.<\/p>\n
The firm’s Job Postings Index<\/a> fell to 101.9 as of Oct. 24, the most recent point for which data is available. That’s the lowest since early February 2021 for a measure that uses February 2020 as a baseline value of 100.<\/p>\n The level represents a 0.5% decline from the beginning of the month and a roughly 3.5% tumble from mid-August, the latest point from which Bureau of Labor Statistics data is available.<\/p>\n Under normal conditions, the BLS on Tuesday would have reported its monthly Job Openings and Labor Turnover Survey, a measure that Federal Reserve officials watch closely for indications of slack in the jobs market. With the shutdown on the precipice<\/a> of being the longest in history, economists and policymakers are left to look at alternative data for big-picture indicators.<\/p>\n The most recent JOLTS report, for Augus<\/a>t, also indicated an ongoing decline in openings. The BLS reported that job openings totaled 7.23 million, about level with July but down 7% from January. <\/p>\n Indeed’s dashboard of indicators<\/a> also has shown a pullback in salary offerings as job advertisements have declined. Year-over-year wages as judged by salary offerings in Indeed postings rose 2.5% in August, down from 3.4% in January.<\/p>\n A softening labor market has generated concern from Fed officials. The central bank’s Federal Open Market Committee last week voted 10-2 to lower its benchmark interest rate<\/a> by a quarter percentage point to a target range of 3.75%-4%.<\/p>\n Officials have cited rising risks to the labor market taking precedence over ongoing concerns about inflation holding nearly a full percentage point above the Fed’s 2% target.<\/p>\n “Hiring is slowing. We see this from Indeed, from job postings,” Fed Governor Lisa Cook said Monday. “We’re looking at a panoply of data, and those are real time. We’re not waiting on the unemployment report. There’s reason to be concerned, because there’s a slight uptick in the unemployment rate over the summer.”<\/p>\n The nonfarm payrolls report normally would be released Friday, but that also is not happening. Economists surveyed by Dow Jones expect the BLS count would have shown a decline of 60,000 jobs in October and an increase in the unemployment rate to 4.5%.<\/p>\n<\/div>\n<\/div>\n\n
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