Labor market is at a 'turning point' says new study—and it hasn't been this difficult to land a job since the height of the pandemic

A sign at a NYS Department Of Labor job fair at the Downtown Central Library in Buffalo, New York, US, on Wednesday, Aug. 27, 2025. (Credit: Lauren Petracca/Bloomberg - Getty Images)

• U.S. labor market data is flashing warning signs, with the Conference Board’s Employment Trends Index falling again in August and temporary hiring shrinking. Economist Mitchell Barnes said the weakness could mark a turning point, though ClearBridge’s Jeff Schulze argued underlying resilience should support a rebound in 2026.

While many economists acknowledge the labor market has held up remarkably well over the past few years, analysts are beginning to fear its luck has run out.