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A remarkably robust U.S. labor market is coming into better balance.
Why it matters: That's the broad takeaway from not one or two, but three reports out Thursday morning that show what's happening beneath the surface of the economy.
Driving the news: The number of vacant job openings fell by 496,000 in May, the Labor Department said, suggesting a cooling of demand for workers. But the same report showed the number of workers voluntarily quitting their jobs rose by 250,000 — a sign that workers still feel empowered.
Meanwhile, the number of people hired was up (by 107,000) and the number laid off down slightly (35,000).
Also Thursday morning, payroll processor ADP said the private sector added a stunning 497,000 jobs in June. The report isn't a perfect harbinger of the official government release, but the blockbuster number is worth paying attention to.