America has the fewest jobs available since January 2021

The number of available jobs in the US shrank more than expected in July, indicating a waning demand for workers amid a cooling labor market. Job openings fell for the second consecutive month to an estimated 7.67 million, the lowest since January 2021. Economists had expected 8.1 million job postings for July. The decline in job openings is a concern as it suggests a weakening labor market, which may result in a large rate cut from the Federal Reserve. The labor market has slowed down, with nearly 1.1 jobs available for every person seeking employment.