US job openings continue to trend lower: The 3-month moving average of job openings fell to 7.36 million in April, the lowest since 2021. This is also below the pre-pandemic peak seen in Q4 2018, according to BLS data. At the same time, the ratio of job openings to unemployed workers hit 1.03, the second-lowest since April 2021. By comparison, the pre-pandemic peak was 1.24 in October 2019. Job postings on Indeed also reached their lowest level since February 2021 at the end of May, suggesting further weakness is coming in BLS labor market data. The job market is clearly weakening.