US job openings have declined to their lowest level in ten months, signalling a potential cooling of labour demand. According to data released by the Bureau of Labor Statistics, available positions fell to 7.18 million in July, down from a revised 7.36 million in June. Economists had anticipated a figure of 7.38 million, according to a Bloomberg survey. This decrease adds to existing data suggesting a gradually weakening appetite for workers amidst ongoing policy uncertainty.
The sectors experiencing the most significant pullback in openings were health care, retail trade, and leisure and hospitality. Notably, vacancies in health care, a key driver of job growth this year, have fallen to their lowest level since 2021. The report indicates a broad softening in demand across multiple sectors of the US economy.
The release of the jobs data has prompted a reaction in financial markets. Following the report, Treasury yields experienced a decline, while the S&P 500 index maintained a higher position. These movements suggest investors are reassessing their positions in light of the new economic data, with some anticipating a potential shift in monetary policy.
