US job openings saw a slight uptick in July, with overall labor demand remaining stable.

U.S. job openings rose slightly in July, signaling that overall labor demand has remained stable in recent months. Data released by the U.S. Bureau of Labor Statistics on Tuesday showed that July job openings climbed from June’s downwardly revised 7.18 million to 7.27 million, versus economists’ median estimate of 7.31 million. The report notes the U.S. labor market is still in the "low hiring, low layoffs" pattern that has prevailed for most of the past few years. Amid geopolitical uncertainty and persistent inflation, employers are cautious about expanding their headcount but reluctant to cut staff easily. The increase in job openings was driven mainly by manufacturing, state and local governments (excluding education), healthcare and social assistance sectors. Meanwhile, layoffs hit their lowest level since January this year, while the quits rate — a measure of the share of workers who voluntarily leave their jobs each month — edged down to 1.9%. Source: Jinshi