Fed Hawks Circle as Labor Market Shows Resilience Amid Geopolitical Shocks

U.S. job openings slipped to 7.36 million in June, down from 7.54 million in May, but the labor market continues to show surprising resilience. The figures, released Tuesday, came in line with economists' expectations and demonstrate the job market's ability to absorb the economic shock from the Iran conflict and Strait of Hormuz closures. Employers have added an average of 92,000 jobs per month this year—a dramatic improvement from fewer than 10,000 monthly hires...