U.S. President Donald Trump looks on, as he and Apple CEO Tim Cook (not pictured) present Apple's announcement of a $100 billion investment in U.S. manufacturing, in the Oval Office at the White House in Washington
In a striking sign of cooling in the U.S. labor market, July marked the first month since April 2021 when the number of unemployed Americans, 7.24 million, exceeded available job openings — 7.18 million.
The Associated Press reported Wednesday that there are now more individuals vying for fewer openings than at any point in nearly four years.
The news comes amid broader concerns about labor market fragility, as job vacancies continue to decline from their pandemic-era peak and hiring processes grow slower.
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This development paints a more somber picture compared to recent years, when job openings far outpaced job seekers.
Social media users strongly reacted to the news, criticizing the Trump administration.
Former Secretary of Labor Robert Reich wrote on the social platform X: "As prices rise and job growth slows — due to Trump’s tariffs, his attempt to take over the Fed, and his attacks on immigrants — America will likely fall into the dread trap of 'stagflation.' If nothing else brings him down, Trump's authoritarian control over the economy will."
House Democrats' official X account wrote: "This is Trump and Republicans' economy. Rising unemployment and fewer jobs."
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Rep. Ted Lieu (D-Calif.) wrote: "Trump and Republicans are seriously screwing up the economy. There are now more unemployed people than job openings."
Heather Long, a Washington Post columnist said in a post on X: "This is yet another crack in the labor market that illustrates how much harder it is to get a new job right now than what we've seen in a long time. [Note: The July data could be revised, but the trend is pretty straightforward to see]."
Reporter Emma Vigeland wrote: "Ten out of the last eleven recessions started under Republican administrations. It’s practically a central campaign promise."
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