U.S. employers posted fewer jobs in June, a sign that the red-hot demand for workers that has been a key feature of the post-pandemic economy is cooling a bit, the Associated Press reported. Job openings dropped to 9.6 million in June, the Labor Department said yesterday, down slightly from the previous month but much lower than the 10.3 million in April and the fewest in more than two years. The government’s report also showed that the number of people who quit their jobs in June fell sharply to 3.8 million, from 4.1 million, another sign the job market is slowing. The Federal Reserve is seeking to cool hiring because if companies are less desperate to add workers, and fewer people are quitting to seek higher-paying positions elsewhere, then businesses will be under less pressure to raise pay to find and keep workers.
