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Employers posted slightly more job openings in July but the American labor market remained sturdy in the face of higher costs that are squeezing household budgets.
U.S. job openings ticked up to 7.27 million in July from a revised 7.18 million in June, the Labor Department reported Tuesday.
The department's Job Openings and Labor Turnover Survey (JOLTS) also showed that layoffs fell. But so did the number of people quitting their jobs -- a sign of confidence in their prospects. The report showed that gross hiring -- before subtracting those who lost or quit their jobs -- dipped to 5.1 million in July from 5.3 million in June.
The American job market is hardly booming, but it is ambling along despite an energy shock caused by the fighting with Iran that has squeezed family budgets.