BREAKING: US job openings dropped -178,000 in June, to 7.36 million, the lowest since March. This marks the 2nd consecutive monthly decline, bringing the total drop to -226,000. The decline was driven by private education and health services, as well as leisure and hospitality, which fell -133,000 and -86,000, respectively. This was followed by wholesale trade and professional and business services, which declined -74,000 and -71,000, respectively. Despite the decline, there are still 265,000 more available vacancies than unemployed workers, the 2nd-largest difference since January 2025. As a result, the ratio of job openings to unemployed workers remains at 1.0, the highest since January 2025. The labor market is becoming increasingly unstable.