America's employers posted fewer job openings in July than they had the previous month, a sign that hiring could further cool in the coming months.

The Labor Department reported Wednesday that there were 7.7 million open jobs in July, down from 7.9 million in June and the fewest since January 2021. Openings have fallen steadily this year, from nearly 8.8 million in January.

Layoffs rose from 1.56 million to 1.76 million, the most since March 2023, though that level of job cuts is roughly consistent with pre- pandemic levels, when the unemployment rate was historically low. Layoffs have been unusually low since the economy's rapid recovery from the pandemic recession, with many employers intent on holding onto their workers.