US Job Openings Rise Slightly in July Amid Sturdy Labor Market
In July, U.S. job openings increased slightly to 7.27 million from a revised 6.18 million in June, according to the Labor Department's JOLTS report. Despite higher costs and an energy shock caused by conflict with Iran, the labor market remains resilient but not booming. Gross hiring dipped to 5.1 million as layoffs fell, though quits also declined — indicating worker confidence. The U.S. has added an average of 61,000 net jobs per month this year, a modest improvement from below-10,000 monthly job growth in 2025 due to high interest rates and Trump-era tariffs. The unemployment rate remains low at 4.1%, with few new claims for benefits reported weekly. Economists suggest the labor market is entering a 'low fire, low hire' phase as companies grow cautious amid ongoing geopolitical tensions and rising borrowing costs.
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