There will pretty much always be job openings in large companies, as people who fill essential roles retire, move away, etc. Sounds like the companies you monit

There will pretty much always be job openings in large companies, as people who fill essential roles retire, move away, etc. Sounds like the companies you monitor have reduced open roles by 66-90+% which is quite significant. Most companies, before they start laying off existing workers, will simply cut their hiring and hope to shrink their business through natural attrition (hiring fewer people than are leaving), which is probably what you're seeing. EDIT: More broadly though, we are not actually in a recession yet, it's just that there are numerous signs of an emerging global economic slowdown. It's difficult to draw any concrete conclusions about the state of the economy from traditional metrics such as asset prices, inflation, GDP, unemployment, etc, because years of loose monetary policy coupled with recent shocks such as the pandemic and the war in Ukraine have messed with those metrics.