Nation’s Job Openings Fall to Lowest Level in Two Years – RVBusiness – Breaking RV Industry News

File – College students arrive for a job fair at Atlanta Tech Village, Wednesday, March 29, 2023, in Atlanta. On Tuesday, the Labor Department reports on job openings and labor turnover for June. (AP Photo/Alex Slitz, File)

WASHINGTON — U.S. employers posted fewer jobs in June, a sign that the red-hot demand for workers that has been a key feature of the post-pandemic economy is cooling a bit, according to an Associated Press report.

Job openings dropped to 9.6 million in June, the Labor Department said Tuesday, down slightly from the previous month but much lower than the 10.3 million in April and the fewest in more than two years. The government’s report also showed that the number of people who quit their jobs in June fell sharply to 3.8 million, from 4.1 million, another sign the job market is slowing.

The Federal Reserve is seeking to cool hiring because if companies are less desperate to add workers, and fewer people are quitting to seek higher-paying positions elsewhere, then businesses will be under less pressure to raise pay to find and keep workers. Smaller pay hikes could help lower inflation, since businesses won’t have to lift their prices to offset higher labor costs.

Read the full Associated Press report.

Source: https://rvbusiness.com/nations-job-openings-fall-to-lowest-level-in-two-years/