US white-collar hiring is extremely weak: There are now just 1.6 job openings per 100 employees in the professional and business services sector, the lowest in at least 11 years. This ratio has more than HALVED since 2021 and is even lower than the 2020 pandemic bottom. Furthermore, the ratio of unemployed to job openings in the industry is down to 4.0%, nearly matching 2020 lows. This comes as total job openings in the sector are down -1.4 million since the March 2022 peak, to 1.0 million, the lowest since May 2020. Over the same period, the hiring rate is down -1.8 percentage points, to 4.2%, in line with levels seen during the 2008 Financial Crisis. The US white-collar recession is accelerating.