The number of job openings in July, which reflects demand in the labor market, recorded its lowest level in over three years. According to the Job Openings and Labor Turnover Survey (JOLTS) released by the U.S. Department of Labor on the 4th, there were 7.67 million job openings in July, a decrease of 230,000 compared to 7.9 million in the previous month. This is the lowest figure since January 2021. Reuters interpreted this as a "gradual slowdown" without a "collapse in the labor market," which could be seen as reducing the need for a "big cut" (a 0.50% rate cut). [Reuters]