Job openings decline to lowest level in more than two years amid Fed tightening
Zachary Halaschak
The number of job openings in the United States decreased to 9.6 million in June, showing signs of contraction as the Federal Reserve raises interest rates.
The new numbers, which look at openings across all sectors for that month, were released as part of the Job Openings and Labor Turnover Survey, which was updated by the Bureau of Labor Statistics on Tuesday. While still relatively strong, the decrease is notable and marks the lowest level of job openings since April 2021.
The decline was also notable because it was more pronounced than most economists had expected.
The falling number of openings is a sign that the labor market, which has held up despite a series of major threats over the past two years, might be starting to take a hit from the Fed’s rate hikes.
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https://www.washingtonexaminer.com/policy/economy/job-openings-decline-lowest-two-years-fed-tightening
