TD Securities predicts a decline to 7.0 million openings, undershooting consensus and signaling softer labor demand.
US JOLTS job openings are expected to fall to 7.0 million in June from 7.594 million in May, according to strategists. The drop would miss the 7.504 million consensus forecast, reflecting an unsustainable prior surge.
Private-sector hiring indicators, such as Indeed, suggest a more subdued trend, contrasting with July’s stronger ISM Manufacturing reading of 55.6. The ISM rise, driven by production and employment gains, marked its highest level since mid-2022.
Strategists note the divergence between manufacturing strength and labor market softening, with geopolitical tensions and supply chain strains adding uncertainty.