U.S. job openings fall slightly to 8.2 million as high interest rates slowly cool a hot labor market
U.S. job openings fell slightly last month, a sign that the American labor market continues to cool in the face of high interest rates
WASHINGTON (AP) — U.S. job openings fell slightly last month, a sign that the American labor market continues to cool in the face of high interest rates.
There were 8.18 million job vacancies in June, down from 8.23 million in May, the Labor Department reported Tuesday. The June number was stronger than expected: Forecasters had expected 8 million job openings.
Still, the report showed other signs of a slowing job market. Employers hired 5.3 million people, fewest since April 2020 when the pandemic was hammering the economy. The number of people quitting their jobs — a decision that reflects confidence in their ability to find higher pay or better working conditions elsewhere — slid to 3.3 million, fewest since November 2020.
But layoffs dropped to 1.5 million, lowest since November 2022 and down from 1.7 million in May, a sign that employers remains reluctant to let go of staff.
