Number of US Job Openings Dropped to 10.7 Million in June

Number of US , Job Openings Dropped , to 10.7 Million in June.

In June, American employers posted fewer job openings as the economy struggles under record inflation and rising interest rates.

ABC reports that job openings dropped to a still-high 10.7 million.

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According to the Labor Department, that number was 11.3 million just a month earlier in May.

According to the Labor Department, that number was 11.3 million just a month earlier in May.

ABC reports that the number of U.S. job openings had never exceeded 8 million prior to 2021.

The number had topped 11 million every month from December through May.

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In 2022, employers added an average of 457,000 jobs each month.

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If the economy is rolling over, the labor market had apparently not gotten the memo yet as of the end of June.

, Stephen Stanley, Chief economist at Amherst Pierpont Securities, via ABC.

A case could be made for slight moderation from an egregiously overheated state, but that is about as far as I would go in assessing labor market conditions, Stephen Stanley, Chief economist at Amherst Pierpont Securities, via ABC.

According to ABC, the Labor Department's upcoming jobs report is expected to show that employers added an additional 250,000 jobs in July.

According to ABC, the Labor Department's upcoming jobs report is expected to show that employers added an additional 250,000 jobs in July.

According to a survey by the data firm FactSet, economists expect unemployment to remain at 3.6% for the fifth consecutive month.

ABC reports that the Federal Reserve has rapidly increased interest rates to fight the fastest growing inflation in forty years.

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ABC reports that the Federal Reserve has rapidly increased interest rates to fight the fastest growing inflation in forty years.