US job openings rise slightly to 7.3 million as labor market remains sturdy despite higher costs - AP News
U.S. job openings saw a slight increase to 7.3 million in July, suggesting a stable but cautious labor market. Despite economic pressures like high interest rates and geopolitical tensions, layoffs remain low, indicating a 'low fire, low hire' environment.
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This data provides critical insight into the health of the U.S. economy and the impact of current fiscal and geopolitical conditions on employment trends.
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WASHINGTON (AP) — Employers posted slightly more job openings in July but the American labor market remained sturdy in the face of higher costs that are squeezing household budgets.
U.S. job openings ticked up to 7.27 million in July from a revised 7.18 million in June, the Labor Department reported Tuesday.
The department’s Job Openings and Labor Turnover Survey (JOLTS) also showed that layoffs fell. But so did the number of people quitting their jobs — a sign of confidence in their prospects. The report showed that gross hiring — before subtracting those who lost or quit their jobs — dipped to 5.1 million in July from 5.3 million in June.
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