US job openings fell to 10.7 million in June

WASHINGTON — U.S. employers posted fewer job openings in June as the economy grapples with runaway inflation and rising interest rates.

Job postings fell to a still-high 10.7 million in June from 11.3 million in May, the Labor Department said Tuesday.

In its monthly job openings and turnover survey, the Labor Department said the number of Americans leaving jobs fell slightly in June, while layoffs fell.

The labor market has been resilient so far this year: employers have added an average of 457,000 jobs per month in 2022; and unemployment is near its lowest level in 50 years. It’s one of the reasons many economists believe the economy is not yet in recession, even though gross domestic product, the broadest measure of economic output, has contracted for two quarters. consecutive – a rule of thumb for the onset of a downturn.

The Labor Department’s July jobs report, released on Friday, is expected to show employers added 250,000 more jobs last month, which would be a healthy number in normal times but would be the lowest since December 2020. Economists also expect unemployment to have remained at 3.6% for the fifth month in a row, according to a survey by data firm FactSet.

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