Odaily Planet Daily reported that The Kobeissi Letter published an article on the X platform stating that leading indicators show that the US job market will further weaken.

In September, U.S. job postings on Indeed fell 2% month-over-month to their lowest level since February 2021. Job postings have fallen 36% since May 2022 and are now just 2.4% above their pre-pandemic level in February 2020.

White-collar jobs, excluding healthcare, saw the largest decline and are now 8% below their pre-pandemic levels. Blue-collar jobs also declined but remain about 12% above their February 2020 levels.

The data suggest that job openings reported by the Bureau of Labor Statistics in September will deteriorate further.