U.S. Job Market Suffers A Sudden Collapse

  • Job openings fall 34,000 to 9.582 million in June
  • Layoffs decline 19,000; quits decrease 295,000
  • Manufacturing stabilizes at lower levels in July

WASHINGTON, Aug 1 (Reuters) – U.S. job openings fell to the lowest level in more than two years in June, but remained at levels consistent with tight labor market conditions, which could spur the Federal Reserve to keep interest rates elevated for some time.

Labor market resilience was underscored by the third straight monthly decline in layoffs as employers hoard workers after difficulties finding labor during the COVID-19 pandemic. There were 1.61 job openings for every unemployed person in June, up from 1.58 in May

https://www.reuters.com/world/us/us-job-openings-fall-more-than-two-year-low-june-2023-08-01/

Uh-oh! It looks like you're using an ad blocker.

Our website relies on ads and the generous support of readers like you to keep delivering free, high-quality content. Right now, we are facing serious funding challenges and we need your help more than ever. Disable your ad blocker and this message will vanish. You can also sign up for a membership to enjoy an ad-free experience while supporting our work: https://citizenwatchreport.com/plans/subscriptions/ Your support helps us stay independent, continue our work, and keep content free for everyone. We truly appreciate your understanding and thank you for standing with us.