American employers posted fewer job openings in June as the economy contends with raging inflation and rising interest rates, the Associated Press reported. Job openings fell to a still-high 10.7 million in June from 11.3 million in May, the Labor Department said yesterday. In its monthly Job Openings and Labor Turnover Survey, the Labor Department said that the number of Americans quitting their jobs fell slightly in June while layoffs fell. The job market has been resilient so far this year: Employers have added an average of 457,000 jobs a month in 2022; and unemployment is near a 50-year low. That is one reason many economists believe the economy is not yet in a recession even though gross domestic product, the broadest measure of economic output, has contracted for two quarters in a row — one rule of thumb for the onset of a downturn.
