Job openings fell to 7.18 million in July, missing economists’ expectations and underscoring the gradual cooling of America’s labor market as the Federal Reserve’s elevated interest rate policy continues to be a drag on the economy.
The Labor Department reported Wednesday that available positions dropped by 176,000 from June, falling short of the 7.375 million openings that economists had forecast. The decline brought job openings to their lowest level since early 2021, though they remain elevated by historical standards.
The report, known as the Job Openings and Labor Turnover Survey, or JOLTS, showed the job openings rate slipped from 4.4…
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