The number of job vacancies in the US dropped to the lowest level in more than two years in July, and fewer Americans quit their positions, in the latest sign the labor market is cooling off, the latest figures revealed.
Data from the US Bureau of Labor Statistics showed there were 8.827 million job vacancies in July, down from 9.165 million in June, and below a FXStreet-cited consensus of 9.465 million.
It is the smallest number of openings since March 2021.
Job openings increased month-on-month in information by 101,000, and in transportation, warehousing & utilities by 75,000. They rose by 40,000 in financial activities.
They decreased by 198,000 in business services, by 130,000 in health care & social assistance, by 67,000 in state & local government excluding education, and by 62,000 in state & local government education. Construction job openings fell by 23,000.
The data starts a key week of updates on the jobs market with ADP private payrolls figures on Wednesday, weekly jobless claims data on Thursday and the non-farm payrolls on Friday.