Episode Overview
Podcast: Becker Business
Host: Scott Becker
Episode: The Job Market Gets Scarier 9-3-25
Date: September 3, 2025
Scott Becker gives a concise and timely update on the current state of the U.S. job market, analyzing newly released job opening data, its impact on job-seekers, and the potential ripple effects on the stock market and interest rates. He also touches on notable business news, including legal developments affecting tech giants and their influence on market performance.
Key Discussion Points & Insights
1. Declining Job Openings and Market Anxiety
- Job Openings at a Low:
- Newly released numbers show about 7.1 million jobs currently open—down from 12–13 million just a couple of years ago.
- This is the lowest level in several years, making it significantly harder for job-seekers.
- Becker notes:
“This means it’s harder and harder if you’re job to find a job because there’s not that many jobs open where people are looking to hire people.” ([00:47])
- He points to the rising concern regarding entry-level jobs potentially being further eroded by AI advancements.
2. Stock Market Reactions and Federal Reserve Policy
- Paradoxical Market Movement:
- Despite the gloom in the job market, the stock market is up—the NASDAQ by 0.88% and the S&P 500 by 0.4%.
- The rally is attributed to two key factors:
- Antitrust Relief for Google:
“One is Google avoided a horrendous antitrust ruling so it’s up about 9% today.” ([01:23])
- Expectations of Fed Rate Cuts:
- The weakening job market increases anticipation that the Federal Reserve will lower interest rates soon, likely at their next September meeting.
“...this increases the chances that the Fed will actually go ahead and lower rates coming up at their next meeting in September.” ([01:09])
- Antitrust Relief for Google:
3. The Broader Economic Outlook
- Potential for More Turbulence:
- Becker cautions that if AI continues displacing entry-level jobs, the situation could get “really scary” for job seekers.
- His tone mixes concern with the pragmatic observation that poor job news can sometimes buoy stocks, due to its effect on central bank policies.
Notable Quotes & Memorable Moments
- On the job market tightening:
“If you look at the parade of horribles, [it] could get really scary if AI takes away more and more entry level jobs.” —Scott Becker ([00:53])
- On why stocks are up despite tough job news:
“The irony of a lot of these things is this means the stock market is doing well today because this increases the chances that the Fed will actually go ahead and lower rates...” —Scott Becker ([01:09])
- Shoutouts to supporters:
“A special shout out today I’ll give to two people. One, Travis Guerra... and two, Chanel Bunger, our producer who I cannot live without. So God bless her for the work that she does.” —Scott Becker ([01:54])
Important Timestamps
- 00:25 — Episode introduction and context on job market data
- 00:47 — Discussion of sharp decline in job openings
- 00:53 — Concern about AI impacting entry-level jobs
- 01:09 — Link between weak job market and potential Fed rate cuts
- 01:23 — Explanation of why NASDAQ and S&P are up; Google antitrust news
- 01:54 — Personal shoutouts to sponsor and producer
Tone & Style
Scott Becker’s style remains conversational and direct, blending succinct analysis with approachable commentary. He is candid about his concerns for job seekers, while keeping a balanced focus on why “bad news” for Main Street can sometimes be “good news” for Wall Street. The inclusion of sponsor and producer shout-outs adds a personal, community-based touch.
This summary captures all the crucial points and observations from the episode, serving as a clear, engaging guide for listeners and non-listeners alike.