The Job Market Is Cooling but Not Collapsing, According to Private Data NYT | Top Stories By: Ben Casselman 7 November 2025 at 18:02 The federal government shutdown canceled a second straight jobs report, but private data sources suggest the labor market has weakened modestly since summer. © Akilah Townsend for The New York TimesA job fair in Chicago last month. Historically, when unemployment has begun to rise, it has done so quickly.