U.S. job openings fall slightly to 8.2 million as high interest rates slowly cool a hot labor market

AP Economics Writer

WASHINGTON (AP) — U.S. job openings fell slightly last month, a sign that the American labor market continues to cool in the face of high interest rates. The Labor Department reported Tuesday that that vacancies were down to 8.18 million from 8.23 million in May. The U.S. economy and job market have proven remarkably resilient despite the Federal Reserve’s aggressive campaign to tame inflation by raising its benchmark interest rate to a 23-year high. But higher borrowing costs have taken a toll: Job openings peaked in 12.2 million and have come down more or less steadily ever since.