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U.S. job market cooling signals shift in hiring patterns. Openings for economists dropped 21% year-over-year in December 2025, marking the weakest level since 2019 and continuing a third consecutive annual decline. This sustained contraction reflects broader labor market adjustments and cyclical economic headwinds. The persistent weakness in professional hiring—particularly in economics roles—suggests employers are recalibrating spending amid uncertain conditions. For macro observers, these labor market indicators matter: tightening employment trends historically correlate with shifts in asset valuations, risk appetite, and market cycles. Whether this signals deeper economic stress or normal cyclical adjustment remains a key watch point for investors managing exposure across different market conditions.