US Job Openings Drop Amid Slow-Hire Labor Market
US job openings dropped in June as vacancies in the healthcare and social assistance sector declined by 147,000 - the largest decline since July 2025. This sector has been a key driver of job growth amid an aging population.
The report from the Labor Department showed that hiring increased by 96,000 to 5.348 million, led by the healthcare and social assistance industry. However, hiring at hotels, restaurants, and bars fell by 77,000, likely reflecting the fading boost from the recently ended FIFA World Cup tournament.
Carl Weinberg, chief economist at High Frequency Economics, noted that 'the picture is of a steady labor market.' Despite this stability, economists continue to view the labor market as remaining in a 'slow-hire, slow-fire' mode, which they say should allow the US central bank to focus on inflation.
The Federal Reserve last week left its benchmark overnight interest rate in the 3.50 percent-3.75 percent range. Three members of the Fed's policy-setting committee dissented in favor of a quarter-percentage-point hike. Economists predict that nonfarm payrolls increased by 80,000 jobs in July after a rise of 57,000 in June.