The number of job vacancies in the US increased slightly in July, and the number of layoffs declined, indicating that corporate employment demand remained stable at a low level. According to data released by the US Bureau of Labor Statistics on Tuesday, the number of job vacancies in July rose from 7.18 million after being revised in June to 7.27 million. The median expectation of the economists surveyed was 7.31 million. The report shows that the US labor market continues the typical “low recruitment and low layoffs” pattern of the past few years. In the face of geopolitical uncertainty and continued inflation, companies are cautious about expanding the number of employees, but at the same time, they are unwilling to lay off large-scale workers. The increase in job vacancies was mainly driven by manufacturing, state and local government, and the healthcare and social assistance industry. Among them, job vacancies in the manufacturing industry rose to the highest level since December 2023, while vacancies in the leisure and hospitality industry fell to their lowest level since 2021. Meanwhile, the number of layoffs fell to its lowest level since January this year. The number of manufacturing layoffs fell to its lowest level in more than five years. The so-called turnover rate, which measures the proportion of employees voluntarily leaving their jobs each month, fell slightly to 1.9%. The report also shows that each unemployed person corresponds to approximately 1.1 job vacancies. The ratio reached 2 to 1 at its peak in 2022. Federal Reserve officials often use this indicator to measure the balance between labor supply and demand.

The number of job vacancies in the US increased slightly in July, and the number of layoffs declined, indicating that corporate employment demand remained stable at a low level. According to data released by the US Bureau of Labor Statistics on Tuesday, the number of job vacancies in July rose from 7.18 million after being revised in June to 7.27 million. The median expectation of the economists surveyed was 7.31 million. The report shows that the US labor market continues the typical “low recruitment and low layoffs” pattern of the past few years. In the face of geopolitical uncertainty and continued inflation, companies are cautious about expanding the number of employees, but at the same time, they are unwilling to lay off large-scale workers. The increase in job vacancies was mainly driven by manufacturing, state and local government, and the healthcare and social assistance industry. Among them, job vacancies in the manufacturing industry rose to the highest level since December 2023, while vacancies in the leisure and hospitality industry fell to their lowest level since 2021. Meanwhile, the number of layoffs fell to its lowest level since January this year. The number of manufacturing layoffs fell to its lowest level in more than five years. The so-called turnover rate, which measures the proportion of employees voluntarily leaving their jobs each month, fell slightly to 1.9%. The report also shows that each unemployed person corresponds to approximately 1.1 job vacancies. The ratio reached 2 to 1 at its peak in 2022. Federal Reserve officials often use this indicator to measure the balance between labor supply and demand.