After hitting a peak in March, the number of job openings continues to fall, a potential indicator that the labor market could be slowing down.
The number of job openings tumbled by 605,000, to 10.7 million, in June, falling short of the market estimate of 11 million. The rate of job openings dropped to 6.6 percent, from 6.9 percent.
According to the monthly Job Openings and Labor Turnover Survey data from the Bureau of Labor Statistics (BLS), this represented the third consecutive decrease. It also was the largest decline since April 2020.
The most significant declines were situated in retail trade (-343,000), wholesale trade (-82,000), and state and local government education (-62,000)….