Job openings in the United States dropped to 7.4 million in September, according to data from the Bureau of Labor Statistics.

This is the first time job openings have returned to pre-pandemic levels, reflecting a cooling labor market following years of substantial growth. While economists anticipated the decline, forecasting around 7.9 million openings, demand for workers remains relatively steady.

The Job Openings and Labor Turnover Survey (JOLTS) report marks the beginning of a critical week for economic data, with upcoming reports expected to provide further insights into the state of the U.S. economy.

However, the impact of current strikes and recent hurricanes may influence October’s employment data, making this one of the last undistorted snapshots of the labor market.