The numbers: Job openings in the U.S. rose to 11.2 million in July — the first increase in four months — but companies aren’t being as aggressive in trying to fill them in light of a slowing economy.
Job openings edged up from 11 million in June.
The number of jobs being filled, however, slipped for the fourth month in a row.
Similarly, fewer people quit jobs for the fourth straight month. Quits edged down to 4.2 million in July, the Labor Department said Tuesday.
Quits topped 4 million one year ago for the first time ever, part of a pandemic-era trend that’s become known as “the great resignation.” Before the pandemic, the number of people quitting jobs averaged fewer than 3 million a month.
The still-high number of people quitting jobs suggests the labor market remains quite strong, though. Most people who quit usually find a better job.
Big picture: The economy has slowed and companies are hiring fewer workers, but the labor market is still the tightest in decades. The high number of people quitting also suggests that most people aren’t all that worried about losing their jobs.
R&I~Smit
PragDem