U.S. Job Market Suffers A Sudden Collapse

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  • 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/

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