“Even as data show evidence of a labor market cooling at a manageable pace, cautionary flags continue to be waived.”

Wells Fargo economists Sarah House and Aubrey George commented on the Bureau of Labor Statistics’ latest Job Openings and Labor Turnover Survey, which showed that the number of open positions edged back slightly in June, hiring activity sank, layoffs were muted and the number of people quitting their jobs hit a three-year low. Read the CNN article, “The Number of Available Jobs in the U.S. Is Shrinking.”