Job Openings Fall to Lowest Level in Over Two Years

Job openings in the US dropped to 9.6 million in June, the lowest level since April 2021.
The number of people voluntarily leaving their jobs also decreased in June to 3.8 million.
The declines suggest cooling demand for workers amid Fed interest rate hikes aimed at lowering inflation.
Despite the decreases, job openings remain high historically with 1.6 openings per unemployed worker.
The upcoming July jobs report is expected to show a gain of 200,000 jobs with no change to the unemployment rate.