US Job Openings Fell, But Hiring Stayed Steady

The “slow-hire, slow-fire” trend continues.

What’s going on here?

US job openings fell to 7.4 million in June, but companies continued to hire, and they didn’t lay off a lot of people.

What does this mean?

The latest Job Openings and Labor Turnover Survey – which handily shortens to JOLTS – showed employers advertised fewer jobs in June than they did in May. And most of the drop came from healthcare and social assistance. Important to note, though, that economists take this Labor Department report with a pinch of salt: these days, fewer businesses respond to the survey.

Still, the data suggests that the “slow-hire, slow-fire” trend is probably continuing. Hiring rose to 5.3 million, and layoffs and firings held around 1.8 million. That combination suggests labor demand is cooling without a sudden jump in unemployment, which can take some pressure off wage growth.

It’s also welcome news for the Federal Reserve. A labor market that’s cooling gradually, instead of cracking suddenly, gives officials room to keep their attention on inflation rather than worrying about a surge in joblessness.

Why should I care?

Bigger picture: Calmer jobs could mean easier interest rates.

When employers aren’t competing as fiercely for workers, wage growth tends to cool. And that can help cool inflation over time. Lucky that: lower inflation is exactly what the Fed wants to see before it starts cutting interest rates.

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Originally Posted August 4, 2026 – US Job Openings Fell, But Hiring Stayed Steady