White-Collar Employment Contracts for 31 Months, Revealing Labor Market Weakness

According to Aaron Terrazas, the former chief economist at Glassdoor, white-collar job losses have persisted for 31 months, a situation not seen outside of economic downturns. In March 2026, the unemployment rate stood at 4.3%, with payrolls increasing by 178,000 that month. The financial sector experienced a reduction of 15,000 jobs in March 2026, marking a total decline of 77,000 since May 2025. Over the previous year, the information sector averaged a loss of 5,000 jobs each month. For the first time since April 2020, job openings in professional and business services dropped below one million. Additionally, the broader U-6 unemployment rate climbed to 8% in March, while the 2025 benchmark revision adjusted employment gains from 584,000 to 181,000, indicating a weaker labor market.