October 4, 2022 10:05am EDT
Job openings unexpectedly plunge in August to lowest level since June 2021
Number of available jobs has topped 10M for over a year
By Megan Henney FOXBusiness
U.S. job openings unexpectedly dropped in August to the lowest level in over a year, as the Federal Reserve tries to bring down near-record high inflation and cool the labor market.
The Labor Department said Tuesday that there were 10.1 million job openings in August – a major decline from the previous month's revised reading of 11.17 million.
Still, the number of available jobs has topped 10 million for 15 consecutive months; before the pandemic began in February 2020, the highest on record was 7.7 million.
"The broad-based decline in job openings across sectors in the U.S. shows a slight loosening in the labor market," said Jeffrey Roach, chief economist for the Charlotte-based LPL Financial. "But overall, still tight."
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https://www.foxbusiness.com/economy/job-openings-unexpectedly-fall-august-lowest-level-june-2021
