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The U.S. Labor Market Is Cooling on the Surface, but Costs Are Heating Up: October 2025 Talent Market Index

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The U.S. Labor Market Is Cooling on the Surface, but Costs Are Heating Up: October 2025 Talent Market Index




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The October release of the Talent Market Index (TMI) reveals a complex and sometimes counterintuitive labor market: job demand is slipping, worker mobility is stalling, and yet the cost to attract talent continues to rise across nearly every job segment.

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