Warning signs have been flashing for months that the US job market has been losing steam. That became starkly clearer in July, and the early data for August isn’t looking much better.

U.S. job openings fell to a 10-month low in July and there were more unemployed people than positions available for the first time since the COVID-19 pandemic, data consistent with easing labor market conditions and supporting expectations the Federal Reserve would cut interest rates this month.

Employers posted 7.2 million job vacancies in July as the American labor market continues to cool. The Labor Department reported Wednesday that job openings fell from 7.4 million in June and came in modestly below what economists had forecast.

The number of job openings in the U.S. fell in July to the second lowest level since the pandemic and hiring patterns signal labor market is even weaker than it seems, a new survey shows.

The Bureau of Labor Statistics released its Job Openings and Labor Turnover Summary Wednesday, showing job openings at 7.18 million, which is pandemic level.

Hiring at US companies was less than forecast in August, consistent with other evidence that points to weaker demand for workers.