Job openings economy unemployment Trump tariffs.

Employers posted 7.4 million job vacancies last month, a sign that the American job market continues to cool. The Labor Department reported Tuesday that job openings in June were down from 7.7 million in May. Layoffs were little changed. But the number of people quitting their jobs — a sign of confidence in their prospects elsewhere — dropped last month. The U.S. job market has lost momentum this year, partly because of the lingering effects of 11 interest rate hikes by the inflation fighters at the Federal Reserve in 2022 and 2023 and partly because President Donald Trump’s trade wars have created uncertainty that is paralyzing managers making hiring decisions.