At the end of June 2025, US JOLTS job openings fell to 7,437,000, down by 275,000 from May and below the market consensus of 7,550,000—the first decline after two consecutive monthly increases. While the year-on-year change remains positive at roughly 0.3%, the current figure is well below the all-time peak of 12,134,000 recorded in March 2022, underscoring a significant cooling in labor demand.
Detailed Data Breakdown:
- Accommodation & Food Services: Job openings plunged by 308,000—the largest drop among major sectors.
- Health Care & Social Assistance: Decreased by 244,000 openings.
- Finance & Insurance: Down by 142,000.
- Retail Trade: Slight increase by 190,000.
- Regional Breakdown: Northeast (-106,000), South (-130,000), and Midwest (-149,000) all saw notable decreases.
- Hiring & Turnover: Hiring fell to 5,204,000, the lowest in seven months, while quits and layoffs remained broadly stable.
In summary, June’s JOLTS report shows labor market momentum is ebbing after back-to-back gains. The declines in accommodation, healthcare, and financial job openings highlight growing caution among employers amid economic and policy uncertainties. Persistent expectations of elevated interest rates and subdued business confidence suggest job openings may contract further, potentially dipping to 7.2 million in the third quarter. A softer jobs market could help moderate wage growth and inflation, but an excessive slowdown could hinder overall economic recovery.
