The US labor market cooled off far more than expected last month, underscoring concerns that the economy has slowed down too quickly and could lead to a recession.

Businesses added just 114,000 jobs in July, according to Bureau of Labor Statistics data released Friday and the unemployment rate unexpectedly leapt to 4.3%, which is the highest since October 2021.

WASHINGTON (AP) — U.S. job openings rose slightly to 8.1 million in May despite the impact of higher interest rates intended to cool the labor market.

Vacancies rose from a revised 7.9 million in April, the first reading below 8 million since February 2021, the Labor Department reported Tuesday. April openings were marked down from an originally reported 8.1 million.

President Biden is extending overtime protections to 1 million workers who make less than the median individual salary and is vowing to take more action if reelected.

The executive action announced Monday will extend protections to workers making less than $43,888 a year, the White House said in a statement.

Job openings fell more than forecast in April, signaling a potential weakening in the labor market that could provide the Federal Reserve more impetus to start lowering interest rates.

The Labor Department’s Job Openings and Labor Turnover Survey showed that the level of employment vacancies slipped to 8.06 million for the month, down by nearly 300,000 from March and nearly 19% lower than a year ago.

The U.S. Department of Labor on Thursday sued South Korean auto giant Hyundai Motor Co, an auto parts plant and a labor recruiter, over illegal use of child labor in Alabama.

The complaint, filed in U.S. District Court in Montgomery, Alabama, also sought an order requiring the companies to relinquish any profits related to the use of child labor.

Reuters reported in 2022 that children, some as young as 12, worked for a Hyundai subsidiary and in other parts suppliers for the company in the Southern state.

Sen. Joe Manchin (D-W.Va.) and a group of Republican senators are moving to overturn a retirement investment planning rule that was finalized by the Labor Department last month.

The Labor Department unveiled the new rule last month that would update the definition of an investment advice fiduciary under the Employee Retirement Income Security Act. Manchin and 15 Republican senators joined in co-sponsoring a Congressional Review Act (CRA) resolution that would overturn this new rule.

About 4.3 million U.S. workers who previously didn't qualify for overtime pay could soon receive time-and-a-half for working more than 40 hours a week thanks to a new rule from the Biden administration.

The U.S. Department of Labor on Tuesday unveiled a new rule that will extend overtime pay to salaried workers who earn less than $1,128 per week, or $58,656 annually. Previously, only workers who made $684 or less each week, or $35,568 annually, were eligible for OT.

Millions more Americans could become eligible for overtime pay.

The Biden-Harris administration announced a final rule Tuesday that raises the minimum salary threshold to qualify for time-and-a-half pay after 40 hours of work in a week.

Proponents say the new limit will mean lower-paid workers are fairly compensated for long hours, and business groups are expected to legally challenge it.

Here’s what to know:

The new salary limits

Starting July 1, 2024, people earning less than $43,888 per year, or $844 per week, would be eligible for overtime pay.

The Biden administration finalized a new rule on Monday that increases the overtime pay threshold for salary workers, despite a similar rule being struck down by a federal judge during the Obama administration.