US hiring rates hit lowest September levels since 2011

U.S. employment intentions reached their lowest September level since 2011, with only 90,787 job openings announced. According to a report from Challenger, Gray & Christmas, this figure represents a 23% decline compared to September 2024.

The retail sector remains the primary driver of hiring, accounting for 65,150 of the monthly intentions. While Spirit Halloween reported a record 52,000 positions, major retailers such as Amazon, Target, and Kohl’s have not yet disclosed their seasonal hiring plans, contributing to uncertainty in the labor market.

This slowdown follows the Federal Reserve's first interest rate hike since 2023, a move that closely influences economic indicators and assets like Bitcoin.