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U.S. Job Openings Crash To 7.4-M As Market Continues To Cool

  • Writer: By The Financial District
    By The Financial District
  • 2 days ago
  • 2 min read

Employers posted 7.4 million job vacancies last month—a sign that the American job market continues to cool, Paul Wiseman reported for the Associated Press (AP).


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The US job market has lost momentum this year, partly due to the lingering effects of 11 interest rate hikes implemented by the Federal Reserve in 2022 and 2023.


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The Labor Department said that job openings in June were down from 7.7 million in May. Layoffs were little changed. However, the number of people quitting their jobs—a sign of confidence in finding better opportunities elsewhere—also dropped.


The US job market has lost momentum this year, partly due to the lingering effects of 11 interest rate hikes implemented by the Federal Reserve in 2022 and 2023.


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The uncertainty created by President Donald Trump’s ongoing trade wars has also paralyzed hiring decisions for many managers. The Labor Department will release employment and hiring figures for July. Economists expect the unemployment rate to tick up to 4.2% from 4.1% in June.


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Businesses, government agencies, and nonprofits are projected to have added 115,000 jobs in July, down from 147,000 in June, according to a survey by data firm FactSet.


Even June's seemingly decent hiring numbers were weaker than they appeared. Private payrolls rose just 74,000—the fewest since last October, when hurricanes disrupted job sites.


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State and local governments added nearly 64,000 education jobs in June—a figure economists believe was inflated by seasonal quirks tied to the end of the school year.


So far in 2025, the economy has been generating an average of 130,000 jobs per month, down from 168,000 last year and sharply lower than the 400,000 monthly average during the 2021–2023 recovery from COVID-19 lockdowns.



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