Sep 25, 2025
Payroll employment gained 0.1% in July, with gains in healthcare, education, and finance offsetting continued weakness in manufacturing…
… but that growth came at the expense of job vacancies, which fell 4% M/M and are off 15% versus last year.
Combined with the latest unemployment print, this hardly inspires confidence in the labour market - with 3.3 job seekers per available seat, the highest since 2017 outside of the pandemic.
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