July labor market stalls as hiring and layoffs ease
The Labor Department’s July JOLTS data show a near-stalled US labor market: job openings held around 7.3 million, hiring at about 5.1 million, and layoffs near 1.7 million with the layoff rate around 1.1%; the quits rate was 1.9%. Hiring remains anemic while layoffs are few this year, suggesting many workers stay put ahead of August data.