US job openings edge up to 7.27 million as hiring cools

U.S. July job openings totaled 7.271 million, up from 7.182 million in June but below expectations of about 7.30 million. The hiring rate was 3.2%, with around 5.1 million people starting new jobs, and openings remained above pre-pandemic levels. Layoffs and discharges were 1.7 million, while quits were 3.1 million, signaling a still-tight but gradually cooling labor market. The job openings rate stood around 4.4%, indicating conditions are not too loose to spur wage-driven inflation yet not so tight as to stall growth. Durable goods manufacturing led gains, health care and social assistance rose, while professional and business services and transportation/warehousing eased; regional changes were mixed. The data will inform Federal Reserve considerations, with the next JOLTS release scheduled for late September.