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America’s labor market is beginning to find its footing again
CNN • • business
Key Points:
- The US labor market showed signs of improvement in June, with hiring activity reaching a three-month high despite a slight decline in job openings to 7.36 million.
- Voluntary quits rose to a six-month high, indicating increased employee confidence, while layoffs remained steady.
- Hiring gains were mainly driven by construction and manufacturing sectors, whereas job openings decreased in wholesale trade, healthcare, and leisure and hospitality.
- Economists view the labor market as stabilizing but caution that ongoing inflation, uncertainty, and geopolitical risks could impact future momentum.
- Overall, the labor market is steady but not robust, with some underlying weaknesses such as declining participation rates and concentrated job growth in healthcare.
