Job Openings Decreased, Separations Increased in July

Latest JOLTs report shows labor market cooling

Fewer job openings, more layoffs and quits

The latest Job Openings and Labor Turnover Survey (JOLTs) report from the Bureau of Labor Statistics (BLS) shows that the labor market is cooling.

Job openings decreased by 2 million to 10.7 million on the last business day of July. This is the lowest level of job openings since September 2021.

Meanwhile, separations increased by 269,000 to 6 million. This is the highest level of separations since December 2021.

What does this mean for job seekers?

The decrease in job openings and increase in separations is a sign that the labor market is cooling.

This means that it may be more difficult to find a job in the coming months.

However, it is important to note that the labor market is still strong.

What does this mean for employers?

The decrease in job openings and increase in separations is a sign that the labor market is cooling.

This means that employers may have to offer higher wages and benefits to attract and retain workers.

Conclusion

The JOLTs report shows that the labor market is cooling.

This is a sign that it may be more difficult to find a job in the coming months.

However, the labor market is still strong.