Mortgage

By John Courtney, CEO, NextJob
October 9, 2025

The labor market is a mirror of our nation’s economic health—and the past month suggests the reflection is showing some troubling cracks in the labor market that the Federal Reserve’s rate cuts were designed to address. Below we look at the most recent data and trends over the past 24 months.We’ll learn more in the coming weeks and hopefully see a reversal. 

Duration of Unemployment - One Month Longer

While weekly unemployment claims improved recently (and were slightly lower in today’s report) after a large jump up in early September, the duration of unemployment has been climbing steadily over recent months. Over the past two years it has climbed nearly one full month from 20.2 to 24.3 weeks.

Long-Term Unemployment - Up 41%

Meanwhile the number of long-term unemployed—those out of work for 27 weeks or more—reached over 1.9 million in August 2025, a two-year climb of 41% from under 1.4 million in August 2023.

Job Growth - Slower

Job creation cooled as August 2025 saw a net gain of 22,000 jobs, compared to 79,000 jobs added in August 2024 and 215,000 in August 2023. Previous month downward revisions added further concern and, for September, ADP, LinkedIn and Indeed reports suggest a hiring slowdown.

Announced Layoffs and the Role of AI

While layoffs are not high, announced mass layoffs have grown, signaling potential future reductions in the workforce. Some may be due to artificial intelligence adoption accelerating, with the share of workers using AI rising from 20% to 40% in two years. According to a recent Goldman Sachs Research report, if AI technologies are widely adopted, 6-7% of U.S. jobs could be displaced, with entry-level and white-collar positions expected to be most affected.

Overall, these labor market and financial shifts mean more families see a job loss translate more quickly into missed payments and, often, deeper financial distress.

Financial Stress & Mortgage & Auto Loan Delinquencies

The job market has led to financial stress. As one homeowner said: “There were moments of self-doubt, questioning whether I was doing everything right or if I just wasn’t standing out in such a competitive job market. I knew I needed help, but I didn’t know where to turn or what resources were available to really make a difference.”

The numbers match:

• Savings - Limiting families’ buffers against hardship, the personal savings rates dropped from 5.3% in September 2023 to 4.6% two years later in August 2025, according to the Bureau of Economic Analysis’s report.
• FHA Delinquencies - According to HUD, the FHA mortgage delinquency rate increased over two years from 9.5% to 12% in Q2 of 2025, the highest rate since the pandemic. Meanwhile serious delinquencies rose from 3% to 4.8%. It appears recent policy changes may increase the rates further as policy changes aim to stem serial workouts.
• Auto Loans - U.S. auto loan serious delinquency rates also grew in the last two years--from 4.4% to 5.0%--with repossessions hitting post-2009 highs and defaults over 2.3 million—signaling risk levels not seen since the financial crisis according to recent reports from the New York Federal Reserve, LendingTree, and Axios.

The Value of Active Reemployment Support

Losing income can make it hard to keep a home, but there are ways forward. Homeowner reemployment has demonstrated proven results, helping borrowers land jobs, cure delinquencies and keep their home.

To learn more or join the movement, ask us about NextJob’s Homeowner Reemployment at info@nextjob.com.

The U.S. job market continues to evolve, presenting opportunities and challenges for job seekers and employers alike. Two critical indicators that shed light on the state of employment in different regions are the job seekers-to-job openings ratio and the average duration of unemployment. By examining these metrics, we can better understand how competitive the job market is and what it means for workers and employers in specific states.

Job Seekers-to-Job Openings Ratio

The job seekers-to-job openings ratio measures how many available workers there are for each open position. This ratio reflects labor market tightness—a lower ratio means more job openings than job seekers, while a higher ratio indicates greater competition for jobs.

Here is a breakdown of selected states:

• California and New York: 110 available workers per 100 job openings.
• New Jersey: 108 available workers per 100 job openings.
• Texas: 89 available workers per 100 job openings.
• North Dakota and South Dakota: 35 available workers per 100 job openings (indicating significant labor shortages).

Nationally, the average ratio is approximately 75 workers per 100 job openings, illustrating a general labor shortage across the country. However, the disparities between states highlight how regional economic conditions impact job market competitiveness (resources for state breakdowns below).

Unemployment Duration by State

The duration of unemployment, or the average number of weeks individuals remain unemployed, is closely tied to the job market’s competitiveness. As of December 2024, the national average duration of unemployment was 23.7 weeks, or about 5.5 months. This figure varies depending on the state’s labor market dynamics.

States with higher ratios of job seekers to job openings, such as California and New York, tend to experience longer average unemployment durations. This is due to increased competition among job seekers, which makes finding employment more challenging. Conversely, states with fewer available workers per job opening, such as North Dakota and South Dakota, typically see shorter unemployment durations. 

The Connection Between Job Openings and Unemployment Duration

The interplay between these two indicators reveals important insights for both job seekers and employers:

1. In States with High Competition (e.g., California, New York):
   
   • For Job Seekers: Heightened competition requires job seekers to focus on skills development, tailoring applications, and networking to stand out.
   • For Employers: Employers benefit from a larger pool of candidates but must work harder to identify the best fit. Streamlining the hiring process and offering competitive packages can help attract top talent.
2. In States with Labor Shortages (e.g., North Dakota, South Dakota):
   
   • For Job Seekers: There are more opportunities, allowing job seekers to secure positions quickly and potentially negotiate better terms.
   • For Employers: Labor shortages mean employers must compete for talent by offering higher wages, better benefits, and workplace flexibility. They may also need to invest in training and development to fill skill gaps.
3. National Trends:
   
   • For Job Seekers: Understanding industry-specific trends is key to targeting opportunities in growing sectors with less competition.
   • For Employers: The overall tight labor market challenges employers to create compelling offers and build strong employer brands to attract and retain workers.

What This Means for Employers

Employers must adapt their strategies to thrive in today’s dynamic job market. Here are some considerations:

• Competitive Compensation: Offering salaries and benefits that meet or exceed industry standards is crucial, especially in tight labor markets.
• Flexible Work Options: Many job seekers now prioritize remote or hybrid work arrangements. Providing flexibility can give employers an edge in attracting talent.
• Streamlined Hiring Process: A lengthy or complex hiring process can deter candidates, especially in regions with ample job opportunities. Simplifying recruitment can help secure top talent faster.
• Training and Development: In states with labor shortages, investing in upskilling or reskilling programs can help employers meet their staffing needs while enhancing employee satisfaction.

Conclusion

The U.S. job market is marked by regional variations that influence both job seekers and employers. Whether you’re facing fierce competition or a surplus of opportunities, understanding the job seekers-to-job openings ratio and unemployment duration can help you effectively strategize. 

For comprehensive state-level data on job seekers-to-job openings ratios and unemployment durations, the U.S. Bureau of Labor Statistics (BLS) provides detailed information through its Job Openings and Labor Turnover Survey (JOLTS). The BLS offers interactive charts and tables that display metrics such as job openings rates, hires rates, and the number of unemployed persons per job opening for each state. These resources can be accessed at:

• State Job Openings Rates: This resource provides seasonally adjusted job openings rates by state.
  bls.gov
• Number of Unemployed Persons per Job Opening: This chart offers a seasonally adjusted view of the number of unemployed individuals per job opening.
  bls.gov

Additionally, the Federal Reserve Economic Data (FRED) platform provides graphs and data series that illustrate the ratio of unemployment levels to job openings across various states. This can be a valuable tool for analyzing labor market tightness and understanding regional employment dynamics. You can explore these resources here:

• Unemployment Level/Job Openings: Total Nonfarm: This graph allows users to visualize the relationship between unemployment levels and job openings over time.
  fred.stlouisfed.org

These sources offer up-to-date data that can enhance your understanding of state-specific labor market conditions.

Let’s start the conversation. Reach out to us at info@nextjob.com or call (877) 290-7888 to learn more about how NextJob’s outplacement services, with individualized career coaching, can support your transitioning employees and strengthen your employer brand.

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The U.S. Department of Labor recently highlighted a troubling reality: the gender wage gap remains especially severe for older women. For women in their 50s and 60s, the wage disparity often reflects not just current inequities but a lifetime of unequal pay, interrupted careers, and limited opportunities for advancement. The impact is profound, affecting everything from immediate earning potential to long-term financial security in retirement. Currently, women in the 55-64 age group are only earning 77% of their male counterparts. (DOL)

The Unique Challenges Older Women Face

Older women seeking to re-enter the workforce or advance their careers often encounter compounded obstacles:

• Ageism: Employers may undervalue the skills and experience that come with age.
• Skill Gaps: Rapid technological changes can create real or perceived barriers for those who have been out of the workforce or in roles with less emphasis on digital skills.
• Confidence and Visibility: After years of working in roles that may not have aligned with their full potential, some women struggle to market themselves effectively or advocate for higher pay.

These challenges make it more difficult to secure roles that match their qualifications and pay them fairly—but they are not insurmountable.

Strategies to Help Close the Gap

While the wage gap for older women reflects systemic issues, there are actionable steps that can help level the playing field:

1. Advocating for Pay Transparency – Supporting initiatives and policies that promote pay transparency can help identify and address disparities within organizations, ensuring women are paid fairly for their work.
2. Continuous Learning and Skill Development – Staying updated on industry trends and gaining certifications in high-demand skills can demonstrate value to employers and improve career prospects.
3. Building and Leveraging Networks – Professional networks can open doors to new opportunities and provide access to mentorship and resources that help women navigate the job market more effectively.
4. Practicing Confidence in Negotiation – Learning to confidently articulate one’s value and negotiate salaries can make a significant difference in achieving pay equity.
5. Seeking Employers That Prioritize Fair Pay – Targeting organizations with a track record of fair compensation practices can lead to more supportive and equitable workplaces.

Turning Challenges into Opportunities

The gender wage gap for older women remains a significant issue, but career transitions don’t have to mean compromise. With the right resources and strategies, they can become opportunities to reset, reimagine, and pursue a fulfilling career path.

Personalized coaching, skills training, and networking can help older women navigate workplace challenges, highlight their value to employers, and work toward economic equity. Access to tailored support and professional development can make a meaningful difference in securing well-paid roles that reflect their experience and potential.

Closing the wage gap is an ongoing effort, but every step toward greater fairness matters. For older women seeking to advance their careers, having the right tools and support can be a powerful advantage.

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The U.S. Department of Labor's recent release on state employment and unemployment statistics for October 2024 highlights significant trends in the labor market. For employers, these trends provide critical insights into managing unemployment benefits and supporting workforce stability.‍

National Unemployment Overview
The national unemployment rate stands at 4.1%, a slight decrease that reflects a generally stable labor market. However, state-specific variations indicate differing challenges across the country.

State-Specific Unemployment Rates

The report identifies key state disparities:

• Highest Unemployment Rates:
  • Nevada: 5.6%
  • District of Columbia: 5.7%
  • California: 5.4%
  • New York: 5.3%
• Lowest Unemployment Rates:
  • South Dakota: 2.0%
  • Vermont: 2.2%
  • North Dakota: 2.3%
  • New Hampshire: 2.5%

States with low unemployment rates are experiencing faster workforce recovery, while states with higher rates are facing longer job-search durations and increased strain on unemployment systems.

Impact on Employers
States with higher unemployment rates may experience longer unemployment durations, leading to greater unemployment insurance (UI) obligations for employers. Meanwhile, states with lower rates often see shorter unemployment periods, potentially reducing these costs. Employers must proactively address these dynamics to manage financial and operational risks effectively.

Strategies for Employers

• Proactive Outplacement Services: Employers should invest in outplacement programs to help employees in transition find new roles quickly. These services not only reduce the duration of unemployment for affected individuals but also help manage UI claims and protect employer reputation.
• Evaluate Current Programs with Third-Party Administrators: Partner with your Unemployment Claims Third-Party Administrator (TPA) or outplacement provider to analyze how existing programs are supporting efforts to reduce unemployment duration. Ensure these programs are optimized to deliver measurable results in minimizing UI claims and expediting reemployment.
• Implement Strategic Workforce Planning: Engaging in strategic workforce planning allows employers to anticipate staffing needs and avoid unnecessary layoffs, thereby reducing potential unemployment claims.

By focusing on these actionable strategies, employers can navigate the complexities of varying unemployment rates while minimizing their financial and operational impact. Understanding labor market trends and leveraging supportive programs like outplacement services will position employers to build more resilient workforces and communities.

For more resources on how to reduce unemployment duration and support transitioning employees, please don't hesitate to reach out and schedule some time with us!

As layoffs increase, so do the financial impacts of unemployment insurance (UI) claims. According to the U.S. Department of Labor, the average cost per UI claim has surged by 23.7% over the last six quarters. The length of claims has also grown, with the average claim lasting 15.22 weeks as of Q2 2024, up from 13.7 weeks in early 2023. Additionally, a growing number of individuals are exhausting their benefits—rising from 32.7% to 37.9% over the same period.

As of September 30, 2024, the unemployment rate showed a slight decline to 4.1%. However, other key indicators remain concerning. The average duration of unemployment claims increased to 15.3 weeks, and the exhaustion rate surpassed 38%, signaling that many individuals are remaining out of work for extended periods.

Key Stats – Q2 2024

• Average Cost of a Claim: $6,881
• Average Duration of a Claim: 15.2 weeks
• Average Savings with Reemployment Programs: $2,064 per claim‍
• Exhaustion Rate: 37.9%

The Case for Proactive Claim Management

This upward trend in costs makes proactive unemployment management essential. Leveraging effective reemployment programs can shorten the average claim duration by 30% or more, potentially saving $2,064 per claim.

In states with higher-than-average claim values, like Massachusetts, New Jersey, and Washington, the stakes are even higher. Claims in these regions often exceed $10,000, making a reduction of just a few weeks a significant cost-saver. In such cases, a well-executed reemployment strategy can result in savings of $3,000 or more per claim.

Do you have questions? For further discussion on this topic, please don't hesitate to reach out and schedule some time with us! Let's continue working together toward a more resilient and thriving future.

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Interviews can be stressful – but if you prepare well, they can be enjoyable. And when you prepare thoroughly for an interview, you'll show the hiring manager that you'll go the extra mile if you're hired for the job.

Use these three tips to make the best impression at your next job interview:

‍Research the employer – Learn why the company may be a good fit for you before the interview. Use the employer's website and internet searches to learn about the company, its history, locations, products and services. Look for recent company press releases and news articles.‍

Research your interviewer – Interviewers are more likely to hire someone who has something in common with them. Learn everything you can about the interviewer including their background, interests and mutual connections you may have. Use the power of LinkedIn, Facebook, Twitter and other networks to ask people in your network if they have any connections to the interviewer.

‍Practice your opening and close – People tend to remember the beginning and the end of a conversation. Practice what you’ll say at the start and end of your interview – in the mirror, with a friend or with a job coach – so those parts will go smoothly.

Most job seekers aren't sure how to follow up after an interview or submitting an application - not knowing when an employer will call or when to follow up if they don't. Don't miss this important step. Employers often watch how you work on your job search to assess how you’ll work in the job.

Follow these keys to effective follow up:

‍Follow the "Rule of Three's"– In the first 5 to 7 days after submitting your resume or application, follow up by phone or in person and express interest in the position. If you don’t receive a response within two weeks, try again by email or send a message through LinkedIn. If you still haven’t received a response after a month, consider sending a handwritten note. Continue following up every few weeks to touch base on the progress of the search until the position is filled.

‍Make the extra effort– Always follow up with a thank you note within 24 hours of any interview. Send an email as well as a handwritten thank you card. The extra effort and the sincere appreciation for their time will speak volumes as to what kind of employee and coworker you will be. Be sure to also let them know you are interested in going to the next step!

‍Be persistent– Don't get discouraged. If you don't receive a response, don't stop making phone calls. Even if it's uncomfortable, remember to be confident. If you've done your research, the employers you've picked will be lucky to have you. Even if they've chosen another applicant, you may get a job lead for another position with the company by demonstrating your interest and professionalism.

Over half of college graduates are unemployed six months after graduation and 39% of Unemployment Insurance claimants are considered long-term unemployed having been out of work for more than six months.

Research shows that job seekers receiving the right kind of help can increase their chances of landing a job by six times. What is the right kind of help? Broadly, the right help—according to the research—is teaching a variety of job search skills, providing motivation and encouraging proactivity. In the outplacement world, this can be provided using the right combination of the latest technology and a job coach.

I use the word coach, because a good coach helps people strengthen and sharpen their skills, in this case, job search skills. They fill the job search tool box with important stuff: advice, instructions, motivation, inspiration and direction.

A job coach can be many things to many people, but a good job coach will play the following key roles as part of the team that will help a job seeker land their next job.

1. Mentor

A good job coach won’t just tell a job seeker how to do something. Instead, they explain why certain processes and actions in their profession are necessary and beneficial to the job seeker’s success. The coach will help identify and provide advice and direction on how best to target professional opportunities. They will also help develop strategies for improving performance in particular areas. This approach helps the job seeker understand not just how to do something, but why they need to do it.

2. Motivator

For a job seeker to be successful in their job search they need to be motivated about their work history, career direction, skills and ability to move forward. A good job coach will help them identify what they are doing well and assist them in capitalizing on their strengths. At the same time, the coach will point out their weaknesses, or areas in which they need improvement, and help them develop an approach to bettering themselves. The coach needs to build an honest, trusting relationship with each and every job seeker they serve in order to help each job seeker achieve their goals.

3. Goal-Setter

A good job coach helps chart the course of the job search through goal setting. They help set agendas, develop timetables, plan for the job search, and help the job seeker stay focused and on-track. In addition to meeting with the job seeker on a regular basis to assess progress, the coach will be available on an “as-needed” basis to help evaluate opportunities, plan for interviews and develop networking strategies.

4. Confidence Builder

A good job coach will recognize and celebrate positive strides and remind the job seeker of the progress they’re making. They will help identify and highlight a job seeker’s strengths in a way that builds confidence.

Everyone has had a great coach in their past. It may have been a parent at home, a sports coach in school, a manager at a summer job who pushed them a bit or a mentor who took them under their wing. These were all coaches in their lives.

A good job coach can help each job seeker learn a critical life skill – job search.

For a limited time, job seekers can visit us at https://nextjobcom.webflow.io/nextjob-scholarships-recent-grads for free access to our jobseekers toolkit where they can create their own job search plan.

Tara Orchard, MA., is a Career Transition and Performance and Social Networking Coach. For over 20 years she has provided tangible and actionable insights and perspective to individuals and organizations seeking to develop strategies to adapt and grow.

Tara was advising on Social Networking and personal branding a long time before it was in vogue. She is a freelance writer featured in two business magazines and a member of the Advisory Board for the Career Professionals of Canada. She holds a Bachelor’s and a Master’s degree in Psychology and is certified in numerous career, personality and psychology assessment tools.

As a career coach Tara brings over 20 years of experience working with thousands of individuals in different industries and careers, from around the world, at different stages of their career. She challenges people to ask themselves questions about who they are and what they want and need. Tara believes in Career Agility and finding an intersection between what is possible and what is realistic today as a part of the process for navigating an ongoing Career Journey. Tara has developed a 4 step career navigation process, "Discover, Prepare, Build, Actualize' and a 5 step psychologically infused social networking strategy for career and business success 'Ready, Set, Go, Focus and Flow" and is always looking for new ways to help people build and actualize their personal career journey.

What one piece of core advice would Tara share with job seekers in today’s market?“

Always remain aware and open. A successful career is not built in a day but over time through a series of events, opportunities and decisions requiring smart and proactive navigation. By constantly staying aware, which includes self-awareness, industry, career and economy awareness people can position themselves to be ready when an opportunity presents itself or are capable of creating an opportunity when needed or desired.

Part of the awareness process for career building includes understanding your career brand, a tool useful for both career direction and career marketing. An effective brand is built on awareness and then showcased through your words, content and materials (resumes, social profiles) and actions. All the pieces of the career building and navigation puzzle are more likely to come together when awareness remains on your radar.”

‍As a career coach Tara helps facilitate the process of gathering information and gaining insight to build awareness, identify new opportunities and help develop tangible and actionable strategies that can help someone move along the next phase of their career journey.

For more career coaching advice from Tara, follow her on twitter at @CareerChatter or connect with her on LinkedIn.

For a limited time, job seekers can visit us at https://nextjobcom.webflow.io/nextjob-scholarships-recent-grads for free access to our jobseekers toolkit where they can create their own job search plan.

Dixie is a Coach Team Manager at NextJob where she manages a team of job coaches and is also the Quality Survey Manager. Dixie joined NextJob in 2010, as a Certified Homeownership Counselor (through NCHEC). Her non-profit work includes housing counseling, delinquency and foreclosure prevention and financial education.

Dixie’s coaching and employment-related services experience include over 15 years in staffing, recruiting, training, and job-matching while delivering exceptional service and solutions to a large client-base in a variety of industries and skill levels. With an aptitude for decision-making and problem solving, she has been consistently successful in gathering information and providing guidance while helping others feel empowered about next steps, possible outcomes and options.

Dixie was recently a featured job coach in the BrandOfYouJobTwitterViews event held on May 19, 2015 offering coaching advice to contestants vying for one of the 1,000 available coaching scholarships being offered through @FifthThird bank.

What one piece of advice would Dixie give to job seekers out there?

‍"Develop a concise, descriptive, accomplishment-based branding statement/60-second commercial. You'll get a lot of mileage out of that content. It can be used in cover letters, resume career profile and online applications in the "comments box," and of course in interviews when asked to "tell a little about yourself."‍

For more career coaching advice from Dixie, follow her on twitter at @DixiebDixie or connect with her on LinkedIn.

For a limited time, job seekers can visit us at https://nextjobcom.webflow.io/nextjob-scholarships-recent-grads for free access to our jobseekers toolkit where they can create their own job search plan.