Economic Indicators News

U.S. July job openings cool, but edge up from June revision

U.S. July job openings cooled versus expectations but rose from a downwardly revised June reading, with JOLTS showing 7.271 million openings (vs 7.330 million expected) and June revised to 7.182 million. Hires were 5.054 million and separations 5.072 million; quits fell to 3.056 million while layoffs/discharges declined to 1.666 million. The softer July reading, along with hawkish Fed commentary, gives the Fed some breathing room as rate-cutting expectations fade and markets price in a possible September 25 bp hike, with attention turning to August payrolls for the next labor-market cue.