US Job Openings Hit 2-Year Low: Impact on Labor Market and Policy Considerations

In July, job openings in the United States reached their lowest point in over two years.

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The latest Bureau of Labor Statistics data showed a drop of 253,000 in quits, totaling 3.5 million.

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The Job Openings and Labor Turnover Survey (JOLTS) reported 8.8 million job openings on July’s last business day.

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The JOLTS report precedes the release of significant U.S. nonfarm payroll data later in the week.

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In summary, the decline in job openings poses challenges to the labor market and prompts considerations about the Federal Reserve’s future policy actions.

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