TOTAL COLLAPSE IN US JOB OPENINGS. In two months, nearly 1 MILLION job openings have vanished. We are now sitting at 6.5M vacancies—a staggering -5.6M drop from the 2022 peak. This isn't just a "dip": => Below 2018-2019 levels => Below 2001 recession levels => Lowest V/U ratio since Feb 2021 (0.87) The labor market isn't "cracking"—it's shattered. If you aren't watching the macro data right now, you're flying blind. Is the Fed waiting for a total washout before they pivot ?

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