Businesses posted far fewer open jobs in July and the number of Americans quitting their jobs fell sharply for the second straight month, clear signs that the labor market is cooling in a way that could reduce inflation.
The number of job vacancies dropped to 8.8 million last month, the Labor Department said Tuesday, the fewest since March 2021 and down from 9.2 million in June.
Yet the drop appeared to be even steeper because Junes figure was initially reported as 9.6 million.
That figure was revised lower Tuesday.
Julys figure was still healthy historically before the pandemic the number of openings had never topped 8 million.
And there are still roughly 1.5 available jobs for each unemployed worker, which is also elevated but down from a peak last year of 1.9.
While it might take more time, more applications, and stronger job interview performances to land a job than it did in 2021 and 2022, there are still plenty of jobs going unfilled, said Julia Pollak, chief economist at ZipRecruiter.
Fewer Americans also quit, with 3.5 million people leaving their jobs last month, down from 3.8 million in June, the lowest since February 2021.
Most Americans quit work for other, better-paying jobs, and during and after the pandemic there was a big spike in quitting as workers sought higher pay and benefits elsewhere.
A separate report Tuesday also showed that consumers were less confident in the economy last month, a trend that could cool consumer spending in the coming months.
The Federal Reservewill likely welcomeTuesdays data, because fewer job openings and less quitting reduces pressure on employers to raise pay to find and keep workers.
Pay raises are great for employees, but they can also lead companies to increases prices to offset the higher labor costs, which can push up inflation.
Evidence that the economy is slowing, on top of a steady decline in inflation from its peak of 9.1% in June 2022 to 3.2% last month, could prompt the Fed to skip a rate hike at its next meeting in September.
Federal Reserve Chair Jerome Powell and other Fed officials have hoped that a steady drop in the number of job openings could help bring down inflation, without requiring the layoffs that many economists have warned would be necessary to rein in prices.
So far, job openings have declined substantially without increasing unemployment a highly welcome but historically unusual result that appears to reflect large excess demand for labor, Powell said in a high-profile speech Friday at the Feds annual conference in Jackson Hole, Wyoming. But it isnt clear whether the decline will persist, he said, and this uncertainty underscores the need for agile policymaking.
Later this week, the government will issue its jobs report for August, which economists forecast will show that employers added 170,000 jobs this month.
While that would be a solid increase, it would be the smallest in almost three years, and also point to a potential softening in the economy.
Misiorowski told reporters that he anticipates missing about two starts and being ready to go after the 15 days. The IL move is retroactive to Thursday.
The right-hander took a liner to the shin off the bat of the Chicago Cubs‘ Seiya Suzuki in the first inning of his last start Monday. Later in the inning, after fielding a dribbler in front of the mound, Misiorowski’s knee buckled as he threw wildly to first and two runners scored.
The 23-year-old Misiorowski stayed in the game, pitching three more innings before coming out after 80 pitches.
Misiorowski is 4-1 with 47 strikeouts in 33⅓ innings this season.
In a related move, the Brewers recalled right-hander Logan Henderson from Triple-A Nashville, and he is expected to start against the Nationals on Sunday.
DENVER — The Colorado Rockies have put closer Seth Halvorsen on the 15-day injured list with a right elbow strain after he had to leave Saturday’s win over Pittsburgh.
Interim manager Warren Schaeffer said at the time the injury didn’t look good — following the right-hander’s exit after throwing five pitches in the ninth inning. Halvorsen leads the Rockies with 11 saves.
Colorado also recalled right-hander Nick Anderson and catcher Braxton Fulford from Triple-A Albuquerque on Sunday, and the Rockies optioned infielder Michael Toglia to Albuquerque.
The 25-year-old Halvorsen is 1-2 with a 4.99 ERA this year. He made his big league debut in August of 2024.
BRISTOL, Tenn. — It was a red flag for Major League Baseball at Bristol Motor Speedway on Saturday night.
The Speedway Classic between the Atlanta Braves and Cincinnati Reds was suspended in the first inning because of rain, soaking a record-breaking crowd for the first regular-season game in Tennessee. The plan is to resume the game on Sunday at 1 p.m. ET.
The first delay at the historic bullring of a racetrack came after the ceremonial first pitch featuring a pair of Hall of Famers in Johnny Bench and Chipper Jones, joined by NASCAR drivers Kyle Busch and Chase Elliott. The second with one out in the bottom of the first led to the game being pushed back a day.
Fans who stuck out the first delay of 2 hours, 17 minutes started heading toward the exits before the game was postponed with the Reds holding a 1-0 lead.
It was an unwelcome detour for the long-planned event mixing baseball and NASCAR.
“We’re going to suspend tonight’s game. … We are optimistic for a better weather forecast for tomorrow,” Michael Hill, MLB’s senior vice president of on-field operations, told Fox.
The rain made life difficult on the players before the suspension. A bat flew out of TJ Friedl‘s hands as he led off for the Reds. A pitcher seemed to catch his footing going to cover first base.
The Speedway Classic was announced nearly a year ago as part of commissioner Rob Manfred’s push to take MLB to places where baseball isn’t played every day live. MLB played a game at the “Field of Dreams” movie site in Iowa in 2021 and 2022. Games have been held in Alabama and North Carolina too.
Reds pitcher Andrew Abbott showed up Saturday afternoon at Bristol wearing a cutoff version of a NASCAR race suit. Born in Lynchburg, Virginia, Abbott said he wanted something to wear in for a special game.
“I grew up around NASCAR,” Abbott said. “Just went on eBay and found a couple options, and luckily that was the one that arrived in time. I had a couple of backups. I know who Rusty Wallace is too, so I actually do know the backstory behind it.”
Long before the fans departed in the rain, they were entertained by a 110-foot Ferris wheel along with food trucks, live music, pitching tunnels and batting cages. Fans also had a chance for photos with the Commissioner’s Trophy and Clydesdales outside the historic racetrack.
Inside, star Tim McGraw performed and was joined by Pitbull.
Before the weather moved over the area, players stood in the back of pickup trucks with their numbers emblazoned on the side and rode around the half-mile racetrack. Some used their phones to document the moment. For introductions, the Braves and Reds walked between a pair of cars decked out in Atlanta and Cincinnati colors.
Then the tarp came out as rain that had been falling around Bristol much of Saturday turned heavy and delayed the start.
The first delay led to the Braves switching starting pitchers. Spencer Strider, who grew up in nearby Knoxville, got a bigger ovation than Reds starter Chase Burns, who is from Hendersonville and played at the University of Tennessee. The Reds stuck with Burns despite the delay.
Strider warmed up. The Braves chose not to risk his third start in this situation coming off a second elbow surgery and turned to Austin Cox.
The rain stopped long enough to take off the tarp and start the game.
Michael Waltrip, who raced plenty at Bristol, restarted the festivities by quoting his brother Darrell: “Boogity, boogity, boogity. Let’s play baseball, boys!”
Atlanta went down in order in the top of the first inning. But there was another rain delay after Austin Hays hit an RBI single for Cincinnati in the bottom half.
MLB didn’t try to sell every ticket inside the speedway that drew 156,990 for the Battle of Bristol college football game in 2016. The track with a racing capacity of 146,000 could host 90,000 or more even with sections blocked off.
Officials announced Monday that more than 85,000 tickets had been sold, topping the previous paid attendance of 84,587 set Sept. 12, 1954, when Cleveland Stadium hosted the New York Yankees.
A batter has to clear 400 feet to hit anything out of center field, 375 in the alleys and 330 down each baseline. Pulling a ball down the line raises the prospect of a ball bouncing off the racetrack beyond the outfield wall.
“Honestly, my first thought: I can’t believe they did all this for one game,” Braves first baseman Matt Olson said of his first visit to Bristol. “To be able to set all this up, get a playing surface ready, set the stands up in order to have the proper viewing, it’s pretty incredible.”