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2h ago

U.S. Job Openings Drop to 7.18 Million as Unemployed Outnumber Vacancies

The latest JOLTS reading signals softer labor demand, concentrating attention on a possible September rate cut.

An eagle tops the U.S. Federal Reserve building's facade in Washington, July 31, 2013. REUTERS/Jonathan Ernst/File Photo
Job seekers at the Downtown Central Library in Buffalo, New York, on August 27.
A ?Help Wanted? sign hangs in restaurant window in Medford, Massachusetts, U.S., January 25, 2023. REUTERS/Brian Snyder/File Photo
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Overview

  • Openings fell by 176,000 in July to 7.181 million, the lowest since September 2024, as the openings rate slipped to 4.3%.
  • Hiring edged up to 5.308 million while layoffs rose to 1.808 million and quits held steady at 3.2 million, indicating slower churn.
  • Health care and social assistance posted about 181,000 fewer vacancies, with arts and mining also down, while construction and some goods-producing sectors showed pockets of hiring.
  • Financial markets reacted to the softer data as Treasury yields and mortgage rates declined and the dollar weakened.
  • The report follows steep payroll revisions and President Trump’s firing of the BLS chief, heightening scrutiny as ADP, Challenger and Friday’s August jobs report feed into Federal Reserve deliberations.