Job vacancies, quits plunge in July in stark sign of cooling trend in the US job market

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Businesses posted far fewer open jobs in July and the number of Americans quitting their jobs fell sharply for the second straight month, clear signs that the labor market is cooling in a way that could reduce inflation.

Iron workers construct the framework for a Panasonic EV battery plant Thursday, May 18, 2023, near DeSoto, Kan. The U.S. job market has remained resilient, but Americans are facing higher prices and more expensive credit with the Federal Reserve hiking benchmark interest rates to combat inflation. File - A worker shovels hot asphalt during a parking lot resurfacing job in Richardson, Texas, on June 20, 2023. The U.S.

Iron workers construct the framework for a Panasonic EV battery plant Thursday, May 18, 2023, near DeSoto, Kan. The U.S. job market has remained resilient, but Americans are facing higher prices and more expensive credit with the Federal Reserve hiking benchmark interest rates to combat inflation. Iron workers construct the framework for a Panasonic EV battery plant Thursday, May 18, 2023, near DeSoto, Kan. The U.S.

 

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