Americans who have a job are feeling secure. Not so for many who are looking for one

AP Economics Writer

WASHINGTON (AP) — The American labor market, red-hot for the past few years, has cooled. The job market is now in an unusual place: Jobholders are mostly secure, with layoffs low, historically speaking. Yet the pace of hiring has slowed, and landing a job has become harder. If you have a job, you aren’t likely to lose it. But if you’re looking for one, good luck. Since peaking in March 2022 as the economy accelerated out of the pandemic recession, the number of listed job openings has dropped by more than a third. On Friday, the government will report on whether hiring slowed sharply again in August after a much-weaker-than-expected July job gain.