U.S. job openings fell slightly in June, but the labor market continued to show resilience in the face of an economic shock from fighting in Iran and the closure of the Strait of Hormuz.
Employers posted 7.36 million vacancies in June, down from 7.54 million in May, the Labor Department said Tuesday. The numbers were in line with economist expectations. Openings rose by 97,000 at warehouse, transportation and utility companies and 39,000 at federal government agencies. Openings dropped at wholesalers and manufacturers of nondurable goods.
Layoffs were little-changed at 1.8 million, and the number of people quitting their jobs — a sign of confidence in their prospects — rose slightly.
The gross number of people hired — before subtracting those who quit or lost their jobs — rose slightly 5.3 million. But hiring is weaker than it was in the jobs boom that followed pandemic lockdowns. Then, gross monthly hiring often topped 6 million.
Still, the U.S. job market has remained sturdy despite a surge in energy prices caused by the conflict in Iran, rebounding from a 2025 slump. Before the war in Iran, roughly 15 million barrels of Persian Gulf oil were shipped each day through the Strait of Hormuz. The strait borders Iran, which has fired on ships attempting to transit the passage.
