US job openings fell in August to a five-month low, suggesting employers grew more cautious about expanding their workforces toward the end of summer, while layoffs remained subdued, according to Bloomberg. Available positions dropped to 7.1 million from 7.3 million in July, Bureau of Labor Statistics data out Tuesday showed, falling short of all estimates in a Bloomberg survey of economists. The report also showed layoffs fell to their lowest since March 2025, while hires edged up and the quits rate — the share of people voluntarily leaving their jobs each month — held at 1.9%, matching the lowest since 2020.

The decline in openings was broad, with fewer vacancies in professional and business services, healthcare and social assistance, state and local government, and manufacturing and construction. The figures are consistent with a low-hire, low-fire labor market in which many employers are reluctant to either add or cut staff, while initial jobless claims continue to hover near historic lows. That lack of churn has left many Americans feeling trapped in their jobs or unable to break into the labor market amid limited opportunities.

Continued labor-market resilience has given Federal Reserve officials room to focus on persistent inflation. The central bank raised interest rates earlier this month for the first time since 2023, with policymakers saying in the accompanying statement that job gains had kept pace with the workforce while unemployment had changed little.