appetites were growing to expand their workforces<\/a>; however, hiring remained muted.\n <\/p>\n\n That started to change a little in June, according to the latest Job Openings and Labor Turnover Survey released Tuesday by the Bureau of Labor Statistics: Hiring activity, though historically subdued, hit a three-month high that month.\n <\/p>\n
\n The number of job openings edged lower to 7.36 million but remained above levels seen last year. The number of layoffs was essentially unchanged, and voluntary quits (an indicator of employee confidence) rose to a six-month high.\n <\/p>\n
\n \u201cPut together, the labor market is finding steadier footing,\u201d Nicole Bachaud, a labor economist at ZipRecruiter, wrote Tuesday.\n <\/p>\n
\n However, plenty of wild cards remain in play, including elevated inflation, ongoing uncertainty and geopolitical volatility.\n <\/p>\n
\n \u201cHires ticking up even as postings slow is the kind of detail that keeps this from reading as a market losing steam,\u201d Bachaud added. \u201cWhether that holds through the summer will depend a lot on whether prices and consumer spending stabilize or keeps sliding.\u201d\n <\/p>\n
\n Economists had expected that the estimated number of available jobs \u2013 considered a metric of labor demand \u2013 would fall in June to 7.4 million from May\u2019s initial estimate of 7.594 million openings.\n <\/p>\n
\n Tuesday\u2019s data is the first in a series of critically important economic metrics released this week about the labor market, culminating with the July jobs report on Friday morning.\n <\/p>\n
\n The June hiring uptick was largely driven by industries such as construction and manufacturing, BLS data shows. Both of those sectors also showed increases in openings.\n <\/p>\n
\n Job openings shrank the most in industries such as wholesale trade, healthcare and leisure and hospitality.\n <\/p>\n
\n Still, the hiring upswing seen in Tuesday\u2019s report isn\u2019t enough to drastically shift the narrative that the US labor market has successfully moved out of its low-momentum state, said Dan North, senior economist with Allianz Trade.\n <\/p>\n
\n \u201cThe wheels are not coming off the bus; there\u2019s certainly not negative job growth at the moment,\u201d North said in an interview.\n <\/p>\n
\n However, most of that job growth is coming from healthcare, and participation rates have also been on a decline, he added.\n <\/p>\n
\n \u201cIt\u2019s stable, somewhat solid, but there are signs of decay and shakiness underneath,\u201d North added.\n <\/p>\n","protected":false},"excerpt":{"rendered":"The US labor market, long stuck in a \u201clow-hire, low-fire\u201d slog, may be starting to show a glimmer…\n","protected":false},"author":2,"featured_media":575071,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[114,184,85,46],"class_list":["post-575070","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-il","tag-israel"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/575070","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=575070"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/575070\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/575071"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=575070"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=575070"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=575070"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}