In July 2024, job openings in the United States dropped to their lowest level since early 2021, hinting at a possible hiring slowdown in various industries. Throughout the year, job opportunities have steadily decreased, indicating a shift in the labor market. Layoffs increased, reaching their highest since March 2023, but remained close to pre-pandemic levels. Despite more layoffs, mixed signals are present as hiring rose and resignations slightly increased, although the resignation rate is still much lower than in 2022. While many sectors saw fewer job openings, some industries still grew. The number of available jobs remains higher than the number of unemployed people, reflecting a continued demand for workers. The Federal Reserve is watching these labor market trends carefully, as they could influence future interest rate decisions. Economists expect modest job growth and a slight decrease in unemployment, which may provide insight into the economy’s future.