: Job openings fall slightly to 9.6 million. U.S. labor market still tight.

by | Aug 1, 2023 | Stock Market

The numbers: Job openings in the U.S. dipped to 9.6 million in June, but the demand for workers is still quite strong and suggests little slack in the labor market. Job listings fell slightly to 9.51 million from 9.62 million in May, the Labor Department said Tuesday. Job openings can signal the strength of the labor market and provide insight for the broader economy.

As the Federal Reserve continues trying to ease inflation, it’s looking for job openings to slow down a bit as a sign the labor market isn’t so hot. Job openings in June are still somewhat high, but down from the peak of 12 million last year. The number of people who quit their jobs fell to 3.8 million in June from 4 million in May. People quit more often when they think they can easily find another job. Key details: Job openings rose the most in health care and social assistance. There was also an increase in state and local government positions. Job listings declined in transportation and warehousing. Economists use the number of job listings as a sign of the health of the labor market, even if those positions are never filled. The rate people are quitting in the private sector decreased to 2.7% in June from 2.9% in M …

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