financetom
Economy
financetom
/
Economy
/
US job openings edge lower in June
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
US job openings edge lower in June
Jul 30, 2024 7:46 AM

WASHINGTON (Reuters) - U.S. job openings fell marginally in June and data for the prior month was revised higher, pointing to continued labor resilience that is underpinning the economy.

Job openings, a measure of labor demand, had dropped 46,000 to 8.184 million by the last day of June, the Labor Department's Bureau of Labor Statistics said in its Job Openings and Labor Turnover Survey, or JOLTS report, on Tuesday.

Data for May was revised higher to show 8.230 million unfilled positions instead of the previously reported 8.140 million. Economists polled by Reuters had forecast 8.0 million job openings in June.

Job openings have been steadily declining since hitting a record 12.182 million in March 2022 as demand moderates in response to the Federal Reserve's aggressive interest rate hikes.

A loosening labor market adds to subsiding inflation in building the case for the U.S. central bank to begin cutting rates in September. Fed officials started a two-day policy meeting on Tuesday and are expected to leave the central bank's benchmark overnight interest rate in the 5.25%-5.50% range, where it has been since last July.

The Fed has hiked its policy rate by 525 basis points since March 2022 to tame inflation.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
US deficit grows to $291 billion in July despite surge in tariff revenue
US deficit grows to $291 billion in July despite surge in tariff revenue
Aug 12, 2025
Aug 12 (Reuters) - The U.S. government's budget deficit grew nearly 20% in July to $291 billion despite a $21 billion jump in customs duty collections from President Donald Trump's tariffs, with outlays growing faster than receipts, the Treasury Department said on Tuesday. The deficit for July was up 19%, or $47 billion, from July 2024. Receipts for the month...
Trump weighing lawsuit against Fed's Powell over renovations, White House says
Trump weighing lawsuit against Fed's Powell over renovations, White House says
Aug 12, 2025
WASHINGTON (Reuters) -U.S. President Donald Trump is considering a lawsuit against Federal Reserve Chair Jerome Powell related to his management of renovations at the Fed's Washington headquarters, White House spokeswoman Karoline Leavitt said on Tuesday.  The potential move, suggested earlier in a presidential social media post, escalates Trump's continuing pressure on the central bank leader to cut interest rates.  A...
Fed Should Stay Put as Inflation Remains 'Too High', Kansas Fed President Says
Fed Should Stay Put as Inflation Remains 'Too High', Kansas Fed President Says
Aug 12, 2025
01:51 PM EDT, 08/12/2025 (MT Newswires) -- The US central bank should maintain its monetary policy for now as inflation remains too high, Kansas City Federal Reserve Bank President Jeffrey Schmid said Tuesday, voicing disagreement with policymakers calling for interest rate cuts. Schmid said that while President Donald Trump's reciprocal tariffs seem to be having limited effects on prices, their...
US deficit grows to $291 billion in July despite surge in tariff revenue
US deficit grows to $291 billion in July despite surge in tariff revenue
Aug 12, 2025
(Reuters) -The U.S. government's budget deficit grew nearly 20% in July to $291 billion despite a $21 billion jump in customs duty collections from President Donald Trump's tariffs, with outlays growing faster than receipts, the Treasury Department said on Tuesday. The deficit for July was up 19%, or $47 billion, from July 2024. Receipts for the month grew 2%, or...
Copyright 2023-2026 - www.financetom.com All Rights Reserved