U.S. job openings fell, but remained at levels consistent with tight labor market conditions.
An employee hiring sign with a QR code is seen in a window of a business in Arlington, Virginia, U.S., April 7, 2023. REUTERS/Elizabeth Frantz/File photoWASHINGTON, Aug 1 - 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 despite hefty interest rate increases from the Federal Reserve to dampen demand.
Job openings, a measure of labor demand, dropped 34,000 to 9.582 million on the last day of June, the lowest level since April 2021, the Labor Department said in its monthly Job Openings and Labor Turnover Survey, or JOLTS report, on Tuesday. Data for May was revised lower to show 9.616 million job openings instead of the previously reported 9.824 million. Economists polled by Reuters had forecast 9.610 million job openings in June.
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