U.S. job openings edged higher in July, driven by a surge in manufacturing vacancies. While layoffs fell during this period, weak hiring suggested the labor market remained in a holding pattern, with demand for workers staying stable at a subdued level.
In August, companies continued to add jobs, although the pace became more moderate. While job creation remained positive, it marked the smallest gain since January, reflecting a broader slowdown in the labor market.
Despite these shifts, the American labor market has remained sturdy. However, this stability persists even as higher costs continue to squeeze household budgets.