Job openings fell to a still-high 10.7 million in June from 11.3 million in May, the Labor Department said.
FILE - A"help wanted" sign is seen at an Allstate insurance office in Elgin, Ill., March 19, 2022. American employers posted fewer job openings in June as the economy contends with raging inflation and rising interest rates. Job openings fell to a still-high 10.7 million in June from 11.3 million in May, the Labor Department said Tuesday, Aug. 2, 2022.
In its monthly Job Openings and Labor Turnover Survey, the Labor Department said that the number of Americans quitting their jobs fell slightly but remained high at 4.2 million in June while layoffs fell to 1.3 million from 1.4 million in May. “If the economy is rolling over, the labor market had apparently not gotten the memo yet as of the end of June,'' said Stephen Stanley, chief economist at Amherst Pierpont Securities. “A case could be made for slight moderation from an egregiously overheated state, but that is about as far as I would go in assessing labor market conditions.''
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