Job Openings Ease While Hiring Picks Up; Factory Orders Decline — Evening Brief – 08.04.26

U.S. job openings declined in June as employers showed greater caution about adding workers, although hiring accelerated and layoffs remained relatively low. Separate government data showed factory orders unexpectedly fell, adding to signs of uneven momentum across the economy.

Job openings decreased to 7.359 million from a downwardly revised 7.537 million in May, the Bureau of Labor Statistics reported Tuesday. The total was slightly above the consensus estimate of 7.350 million.

The job openings rate slipped to 4.4% from 4.5%.

Vacancies rose by 97,000 in transportation, warehousing and utilities and by 39,000 in the federal government. Openings declined by 74,000 in wholesale trade, 55,000 in nondurable goods manufacturing and 9,000 in logging.

Hiring increased to 5.348 million from a revised 5.252 million, raising the hiring rate to 3.4% from 3.3%.

Health care and social assistance added 69,000 hires, while construction increased by 41,000 and durable goods manufacturing gained 33,000. Hiring declined by 87,000 in leisure and hospitality and by 21,000 in government.

The quits rate held at 2%, suggesting workers remained cautious about voluntarily leaving their jobs. Layoffs and discharges edged up to 1.766 million from 1.761 million, while the rate remained at 1.1%.

Separately, factory orders fell 0.3% to $656.5 billion in June, missing expectations for a 0.4% increase. May’s decline was revised to 1.1% from 1.3%.

Shipments decreased 0.2% to $652.1 billion after six consecutive monthly gains.

Unfilled orders rose 0.6% to $1.59 trillion, marking their 23rd increase in 24 months. Inventories advanced 0.1% to $962.9 billion for their ninth consecutive monthly gain.

The inventories-to-shipments ratio increased to 1.48 from 1.47, while the unfilled orders-to-shipments ratio declined to 6.86 from 6.90.