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The report, released Tuesday by the U.S. Department of Labor, comes as the trade war between the United States and China is escalating. On Monday, the trade war led to a sharp drop in Wall Street stocks and the yield on the 10-year Treasury bond fell to its lowest level since October 2016.
Fears that the Sino-US trade dispute could impact U.S. economic expansion for 10 years prompted the Federal Reserve to cut interest rates last week for the first time since 2008. Financial markets have fully absorbed that the Federal Reserve will further ease monetary policy at its September 17-18 meeting.
"Companies may find it difficult to fill job vacancies or are reluctant to recruit because of increased economic uncertainty," said Sophia Koropeckyj, an analyst at Moody's. "Business confidence has been hit this year."
The monthly Job Vacancy and Labor Loss Survey (JOLTS) released by the U.S. Department of Labor on Tuesday showed that seasonally adjusted job vacancies decreased by 36,000 to 7.3 million in June. Job vacancies have been flat so far this year since reaching an all-time high of 7.6 million at the end of 2018, suggesting a cooling of the labour market.
The vacancy rate dropped from 4.7% in May to 4.6%. However, job vacancies in real estate, rental industries and state and local government education have increased.


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