'Meh' job market: U.S. openings slide to lowest level in months
The U.S. job market showed further signs of cooling in June, according to the Labor Department’s latest Job Openings and Labor Turnover Survey.
Employers reported 7.4 million job openings, down from 7.7 million in May and roughly in line with economists’ expectations, according to an article from the Associated Press. This marks another step in the gradual slowdown seen throughout 2025.
The data also revealed that fewer Americans are voluntarily leaving their jobs — a measure of worker confidence known as the quits rate — which has dropped to its lowest point since December. Hiring activity declined as well, while layoffs remained little changed and continue to sit below pre-pandemic levels, suggesting employers are reluctant to shed workers even amid weaker demand.
Glassdoor economist Daniel Zhao wrote that the report “shows softer figures with hires and quits rates still sluggish. Not dire, not amazing, more meh.’'
Several factors are contributing to the cooling labor market, according to the article. The economy is still adjusting to the Federal Reserve’s 11 interest rate hikes implemented during 2022 and 2023 to combat inflation. Additionally, ongoing trade tensions under President Donald Trump’s administration have added uncertainty, making companies cautious about expanding payrolls.
Looking ahead, economists surveyed by FactSet expect Friday’s monthly jobs report to show unemployment edging up slightly to 4.2% in July from 4.1% in June, with employers adding an estimated 115,000 jobs — a slowdown from June’s 147,000 gain. June’s headline hiring figure was also inflated by temporary education jobs at the state and local level, masking weaker private-sector growth, which added just 74,000 jobs.
Overall, job creation in 2025 is averaging about 130,000 per month, down from 168,000 in 2024 and far below the 400,000 monthly pace seen in the immediate recovery period following the COVID-19 pandemic.
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