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.
Astro Bot was the big winner at this year’s BAFTA Games Awards, taking home five prizes, including the coveted best game.
The 3D platformer, which was launched to critical acclaim in September to mark PlayStation’s 30th anniversary, was nominated for eight gongs, while Senua’s Saga: Hellblade II, led with 11 nods.
But in the end, the critics – some of whom had dubbed Astro Bot a “perfect game” – were right as it dominated the awards at London’s Queen Elizabeth Hall, hosted by comedian Phil Wang for the second year running.
Image: Astro Bot. Pic: Team Asobi
Image: Nicolas Doucet with his five awards for Astro Bot. Pic: PA
BAFTAs for audio achievement, game design, animation, and best family game completed the set for developers Team Asobi, who designed multiple galaxies and dozens of levels for the titular Astro to journey through, retrieving spaceship parts and rescuing lost robots.
“We’re a team based in Japan, but we have over 12 nationalities. We really mix it up and get ideas from everyone,” Nicolas Doucet, president of Team Asobi, told Sky News.
“We do a lot of jokes in the game, but the joke has a different meaning depending on where you are in the world. So it’s really, really nice to go around and ask everyone ‘is that joke fine in your country?’ And then together we come to a kind of universal playfulness.”
Image: Among the gongs for Astro Bot was the best game award. Pic: BAFTA
It’s a very different atmosphere than that generated by British psychological horror Still Wakes The Deep, which won three awards for best new intellectual property and best supporting and leading roles.
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Compared to John Carpenter’s 1980 sci-fi horror The Thing but on a Scottish oil rig, the game sees players take on the role of an electrician trapped on a damaged facility while being pursued by monsters.
Image: Still Wakes The Deep. Pic: Sumo Digital Limited
Developer The Chinese Room has been praised for using home-grown talent to voice the characters, including comedian and actress Karen Dunbar, who picked up best performer in a supporting role for voicing Finlay.
“I’ve been nominated for quite a few BAFTAs in my time in Scotland, and I’ve never won one,” said Dunbar.
“It was such a great category, so many great performances. When they shouted my name, I think I started clapping for someone else!”
Image: Still Wakes The Deep star Karen Dunbar won best performer in a supporting role. Pic: BAFTA
Meanwhile, best multiplayer game went to Helldivers II – a satirical, sci-fi shooter that sees players fight bugs, aliens and robots with the gumption and gullibility of the characters in Paul Verhoeven’s Starship Troopers.
It has gained a cult following since launching in February 2024 with so much initial interest it created server problems.
“Games for me are about connecting people and forging those bonds of friendship and the multiplayer award is exactly what it stands for,” said Johan Pilestedt, chief executive of Arrowhead Game Studios.
Image: Helldivers II. Pic: Arrowhead/Sony
From outer space to a fictional Yorkshire town called Barnsworth. Thank Goodness You’re Here! – a cartoonish, comedy platformer – won Best British Game. Like Still Wakes The Deep, it has won praise for the authenticity of its actors and setting.
“I think it’s been a real privilege to be able to represent Barnsley on the silver screen,” said Will Todd, who is from the town and one of two game designers behind the project.
Co-creator James Carbutt added: “Me and Will wrote everything in our tone of voice, quite literally. The further along development we got, the more we lent into it. I think the voices from different parts of the UK and different voices in gaming are super important, and hopefully we’re one of them.”
By the time the BAFTAs wrapped up, Senua’s Saga: Hellblade II was only handed one of the 11 BAFTAs it was nominated for, technical achievement.
Image: Senua’s Saga: Hellblade II. Pic: Ninja Theory
But developers Ninja Theory are already adding this year’s win to a tally of five BAFTAs they were awarded for the first game in the series, which created a protagonist with psychosis by drawing on clinical neuroscience and the experiences of people living with the condition.
The BAFTA Games Awards celebrate gaming excellence and creative achievement in the best games of the last year.
Hosted by comedian Phil Wang for the second year running, the biggest names in gaming gathered at London’s Queen Elizabeth Hall.
With 41 games nominated across 17 categories, here are all the winners – in bold – from the night.
Animation Astro Bot Call of Duty: Black Ops 6 LEGO Horizon Adventures Senua’s Saga: Hellblade II Thank Goodness You’re Here! Warhammer 40,000: Space Marine 2
Artistic Achievement Astro Bot Black Myth: Wukong Harold Halibut Neva Senua’s Saga: Hellblade II Still Wakes the Deep
Audio Achievement ANIMAL WELL Astro Bot Helldivers 2 Senua’s Saga: Hellblade II Star Wars Outlaws Still Wakes the Deep
Best Game Astro Bot Balatro Black Myth: Wukong Helldivers 2 The Legend of Zelda: Echoes of Wisdom Thank Goodness You’re Here!
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British Game A Highland Song LEGO Horizon Adventures Paper Trail Senua’s Saga: Hellblade II Still Wakes the Deep Thank Goodness You’re Here!
Debut Game ANIMAL WELL Balatro Pacific Drive The Plucky Squire Tales of Kenzera: ZAU Thank Goodness You’re Here!
Evolving Game Diablo IV FINAL FANTASY XIV ONLINE No Man’s Sky Sea of Thieves Vampire Survivors World of Warcraft
Family Astro Bot Cat Quest III LEGO Horizon Adventures Little Kitty, Big City The Plucky Squire Super Mario Party Jamboree
Game Beyond Entertainment Botany Manor Kind Words 2 (lofi city pop) Senua’s Saga: Hellblade II Tales of Kenzera: ZAU Tetris Forever Vampire Therapist
Game Design ANIMAL WELL Astro Bot Balatro Helldivers 2 The Legend of Zelda: Echoes of Wisdom Tactical Breach Wizards
Multiplayer Call of Duty: Black Ops 6 Helldivers 2 LEGO Horizon Adventures Super Mario Party Jamboree TEKKEN 8 Warhammer 40,000: Space Marine 2
Music Astro Bot Black Myth: Wukong FINAL FANTASY VII REBIRTH Helldivers 2 Senua’s Saga: Hellblade II Star Wars Outlaws
Narrative Black Myth: Wukong Dragon Age: The Veilguard FINAL FANTASY VII REBIRTH Metaphor: ReFantazio Senua’s Saga: Hellblade II Still Wakes the Deep
New Intellectual Property ANIMAL WELL Balatro Black Myth: Wukong Metaphor: ReFantazio Still Wakes the Deep Thank Goodness You’re Here!
Technical Achievement Astro Bot Black Myth: Wukong Call of Duty: Black Ops 6 Senua’s Saga: Hellblade II Tiny Glade Warhammer 40,000: Space Marine 2
Performer in a Leading Role Alec Newman as Cameron ‘Caz’ McLeary in Still Wakes the Deep Humberly González as Kay Vess in Star Wars Outlaws Isabella Inchbald as Indika in INDIKA Luke Roberts as James Sunderland in SILENT HILL 2 Melina Juergens as Senua in Senua’s Saga: Hellblade II Y’lan Noel as Troy Marshall in Call of Duty: Black Ops 6
Performer in a Supporting Role Abbi Greenland & Helen Goalen as The Furies in Senua’s Saga: Hellblade II Aldís Amah Hamilton as Ástríðr in Senua’s Saga: Hellblade II Jon Blyth as Big Ron in Thank Goodness You’re Here! Karen Dunbar as Finlay in Still Wakes the Deep Matt Berry as Herbert the Gardner in Thank Goodness You’re Here! Michael Abubakar as Brodie in Still Wakes the Deep
LEXINGTON, Ky. — Burnham Square chased down East Avenue from the back of the pack and won by a nose in the storm-delayed $1.25 million Blue Grass at Keeneland on Tuesday, earning enough points to qualify for next month’s Kentucky Derby.
The 101st running of the Blue Grass was postponed from Saturday because of heavy rain and deadly flooding in Kentucky. The upcoming Lexington Stakes on Saturday is the final derby qualifying race.
Burnham Square, ridden by Brian Hernandez, covered the 1 1/8 miles in 1:51.33 and paid $10.48, $5.18 and $3.34 at 4-1 odds.
The Ian Wilkes-trained gelding also earned 100 points from the Grade I race and has 130 overall toward the 151st Derby on May 3 at Churchill Downs in Louisville. Sandman is one point behind, and Santa Anita Derby winner Journalism is third with 122.5.
“I’ll watch him. He’ll tell me what I need to do,” Wilkes said. “But we have to keep the foot on the gas — got to keep the foot down on the pedal — because we’ve got to get a little better again. It’s going to be very deep waters, and we’ve got to get a lot better.”
East Avenue returned $6.42 and $4.26 for second and earned 50 Derby points, while Todd Pletcher-trained favorite River Thames finished third, paying $3.24 and receiving 25 points.
Admiral Dennis (15 points) was fourth beneath substitute jockey Manny Franco, who took the mount after veteran Luiz Saez was injured from a fall in the second race. Saez was in stable condition at a hospital after Fateful Lightning on Keeneland’s turf course.
Burnham Square lagged far behind as East Avenue led seven horses entering the backstretch before steadily moving up and saving his best after rounding the final turn. He stalked East Avenue from the outside and the horses were even in the final yards before Burnham Square edged East Avenue at the line for his second stakes victory in three starts this year.
“When we turned for home my horse had a full head of steam, and I was pretty confident we were going to able to run (pacesetter East Avenue) down,” Hernandez said. “So right at the wire I had an idea that we got our neck in front of him.”
He won the Grade III Holy Bull at Gulfstream by 1 3/4 lengths in February before running fourth in the Grade II Fountain of Youth on March 25.