BREAKING: US job openings dropped -256,000 in August, to 7.08 million, their lowest level since March. Available vacancies have now declined by -506,000 since April. The decline was driven by real estate and rental and leasing job openings, which fell -62,000, to 47,000, their lowest since September 2015. Since January 2025, job openings in this sector have plunged -144,000. Furthermore, job openings in manufacturing and construction declined -54,000 and -48,000 last month, respectively. As a result, there are just 48,000 more available vacancies than unemployed workers, down from 419,000 in July. The Fed cannot ignore the weak US labor market.