Large states report more job openings

July 23, 2025

In the most recently available data, job openings in the United States rose to 7.8 million at the end of May, up from 7.4 million the month before. Openings have remained between 7.4 to 7.8 million on a three-month moving average basis since June last year.

Job openings rose in several large states month-over-month, mostly in the South. New York (+84,000), Texas (+56,000), Georgia (+54,000) and Florida (+44,000) led the gains. Openings fell in California by 50,000.

Separately, real-time data from Indeed show that advertised job postings are on a downward trend. The measure fell two additional points to 104 from 106 between June and July. Job postings declined in June and July in the five most populous states: California, Texas, Florida, New York and Pennsylvania. This indication of lower labor demand could show up in the official JOLTS releases as weaker job openings.

Federal government layoffs are still affecting labor demand around Washington, DC. Postings continue to decline in Virginia and Maryland. They have flatlined in Washington, DC; postings there had fallen more sharply. The Supreme Court recently allowed government agencies to move forward with layoff plans; demand still has room to fall further in this region.

The ratio of job openings to unemployed job seekers, a measure of balance in the labor market tracked closely by Federal Reserve officials, edged up to 1.1 from 1.0. The ratio increased month-over-month in 39 states and Washington, D.C. That is a positive sign for the labor market.

There has been relatively little churn; hiring, layoffs and quits remain below their respective pre-pandemic benchmarks. In New York, both hiring and layoffs were flat in May while quits rose by one-tenth of a percentage point. In Texas, hiring fell by two-tenths of a percentage point while layoffs and quits were flat. Businesses and workers are generally standing still within the context of policy uncertainty.

Data from the Federal Reserve Bank of Atlanta show that the wage premium for switching jobs reversed in February; that has continued through June. Those who stay in their jobs are earning larger wage increases than those who leave. That is contributing to the below-benchmark quits rate.

At the national level, the unemployment rate rose to 4.24% in May from 4.19% in April. At the state level month-over-month, only three states reported statistically significant changes: Illinois (to 4.6% in June from 4.8% in May), Maine (to 3.3% from 3.4%) and Virginia (to 3.5% from 3.4%).