Job openings dip slightly in June amid signs of 'turbulence' in labor market

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Labor Market News

Bureau Of Labor Statistics,Seth Harris,Unemployment Rate

The June JOLTS report is the latest data displaying a labor market that has begun to show some signs of cooling.

released Tuesday showed that 8.18 million jobs were open at the end of June, a decrease from the 8.23 million job openings in May. May's figure was revised higher from the 8.14 million open jobs initially reported. Economists surveyed by Bloomberg had expected the report to show 8 million openings in June.

This is one of the early signs of "turbulence" in the labor market data, per Harris, and one of the reasons he believes the Federal Reserve should be cutting interest rates when it announces its next policy decision on Wednesday.as several economists have noted in recent months the central bank should begin cutting interest rates before signs of cooling in the labor market intensify.

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