U.S. job openings ticked higher in July, holding the labor market steady

In July, the number of job openings in the United States slightly increased to 7.27 million, according to the Labor Department's Job Openings and Labor Turnover Survey (JOLTS). Despite higher costs squeezing household budgets, the American labor market remained strong. Layoffs also decreased, while the number of people quitting their jobs fell, indicating confidence in future job prospects.

Throughout 2026, U.S. employers added an average of 61,000 net jobs per month, a modest improvement from the weak hiring seen in 2025, which averaged below 10,000 jobs per month. The hiring slowdown is attributed to the lingering effects of high interest rates and uncertainty caused by the Iran conflict, which has impacted family budgets.

Despite fewer job openings, there were fewer layoffs, and the unemployment rate remained low at 4.1%. Additionally, the number of people signing up for unemployment benefits was low, further reinforcing the resilience of the labor market. When the Labor Department releases figures on August hiring and unemployment in September, it is expected to show that employers added around 65,000 jobs last month, and the jobless rate could rise to 4.2%, based on a survey of forecasters conducted by the data firm FactSet.