WASHINGTON (NEWSnet/AP) — U.S. employers posted fewer jobs in June, a sign that demand for workers, a key element of the post-pandemic economy, is cooling a bit.

Job openings dropped to 9.6 million in June, the Labor Department said Tuesday, down slightly from the previous month, and much lower than the 10.3 million in April. It's at the lowest level in more than two years.

The government’s report also shows the number of people who quit their jobs in June fell sharply to 3.8 million, from 4.1 million.

The Federal Reserve is seeking to slow the pace of hiring. If companies are less active for adding additional workers, and fewer people seek higher-paying positions elsewhere, businesses are under less pressure to raise pay to find and retain workers. Smaller pay hikes could help to lower inflation, since businesses won't have to lift prices to offset higher labor expense.

Tuesday's report means there are 1.6 jobs for every unemployed worker, down from a peak of 1.9 earlier in 2023. But that still is much higher than before the pandemic. Since the economy first emerged from the pandemic period, job openings have soared, reaching a record 12 million in March 2022. Prior to the pandemic, they had not topped 7.6 million.

The report, called Job Openings and Labor Turnover Survey, or JOLTs, suggests a healthy economy, with employers seeking to hire more people. The number of U.S. workers quitting remains slightly above pre-pandemic levels, suggesting many continue to find better-paying opportunities.

At the same time, the data suggests the labor market is beginning to normalize.

“There are fewer signs that there is true desperation among employers,” said Nick Bunker, research director at Indeed Hiring Lab, a online jobs site. “Wage growth is coming down.”

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