US job openings rose to 7.27 million in July as layoffs declined and unemployment remained low, signaling continued labor market resilience despite rising household costs.
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WASHINGTON — U.S. job openings rose slightly in July, while layoffs declined, offering fresh evidence that the labor market remains resilient despite higher costs weighing on household budgets and slowing overall hiring.
Employers posted 7.27 million job openings in July, up from a revised 7.18 million in June, according to the Labor Department’s Job Openings and Labor Turnover Survey released Tuesday.
The report also showed fewer layoffs during the month, although the number of workers voluntarily leaving also declined, suggesting that employees may be less confident about finding better opportunities elsewhere.
The figures point to a labor market that has slowed from previous years but has so far avoided a significant downturn. Employers are hiring at a modest pace, yet they are also largely retaining existing workers.
The economy has faced renewed pressure from higher energy costs linked to the conflict involving Iran, adding to household expenses and squeezing consumer budgets. Businesses have also continued to navigate the effects of elevated borrowing costs and uncertainty surrounding trade policies and tariffs.
So far in 2026, U.S. employers have added an average of 61,000 jobs per month. While that pace remains relatively subdued, it represents an improvement from 2025, when monthly job growth averaged below 10,000 — the weakest performance outside a recession since 2002.
Job growth this year was also affected by employment losses recorded in February and July.
Despite weaker hiring, companies have not significantly increased job cuts. The unemployment rate remains low at 4.1%, while weekly applications for unemployment benefits have remained relatively low, indicating that most workers who have jobs are holding on to them.
Economists are now awaiting the Labor Department’s August employment report, due Friday, for further clues about the direction of the world’s largest economy.
Forecasters surveyed by FactSet expect employers to have added about 65,000 jobs in August, while the unemployment rate is projected to edge up to 4.2%.
The latest data underscore the unusual balance facing the U.S. economy: hiring has slowed considerably, but widespread layoffs have yet to emerge.
That resilience could prove important for policymakers as they assess whether higher prices and increased household costs will eventually weaken consumer spending and business activity.
For now, the July JOLTS report suggests the American labor market is neither booming nor collapsing, but continuing to expand at a cautious pace despite mounting economic pressures.
