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openings plunged in July to their lowest level since early 2021, a concerning sign that the labor market is cooling. That will likely favor theto 7.67 million, a decline of over 1 million jobs from a year ago, the Bureau of Labor Statistics reported in an update to the Job Openings and Labor Turnover Survey. That is the lowest level since January 2021, the month that President Joe Biden entered office.
The “quits rate” measures the share of people who voluntarily left their jobs and includes those who left their previous employment for another job and people who quit but are confident they will soon find new employment.
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