US Job Openings Drop to Lowest Since Early 2021—Recession Fears Grow 📉

News & Articles
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Summary:

  1. Decrease in Job Openings
    US job openings fell to 7.67 million in July, the lowest level since January 2021. This decline, from a revised 7.91 million in June, indicates a softening labor market.

  2. Rising Layoffs and Slowing Demand
    The drop in job openings is accompanied by increased layoffs, suggesting reduced demand for workers and raising concerns about a potential recession.

  3. Federal Reserve’s Response
    With job growth slowing and unemployment rising, Federal Reserve officials are considering rate cuts. The August employment data will be closely watched for further signs of economic weakening.

Read more at: Yahoo