US job openings rose by 89,000 to 7.271 million in July from a downwardly revised 7.182 million in June, modestly below the 7.3 million market expectation, while hiring dropped by 278,000 to 5.054 million, its lowest level since February. The Labor Department’s Job Openings and Labor Turnover Survey showed the openings rate rising to 4.4% from 4.3%, led by a 79,000 increase in manufacturing vacancies concentrated in durable goods, alongside gains in state and local government education and healthcare and social assistance. Leisure and hospitality openings fell to their lowest level since 2021, and professional and business services recorded 65,000 openings. Layoffs and discharges declined by 119,000 to 1.666 million, the lowest since January, while voluntary quits fell by 157,000 to 3.06 million, leaving roughly 1.1 openings per unemployed person. Federal Reserve Chair Kevin Warsh described the labor market as “quite stable” and “consistent with full employment levels,” while markets have priced varying odds of a September rate increase as investors await the August jobs report.