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Job openings fall to lowest level since February 2021

Job openings fell sharply in April as the US labor market continues to cool.

Job openings fell in April to their lowest level since February 2021 as the labor market shows further signs of cooling off from the hiring boom that followed the US economy reopening after the pandemic. Economists surveyed by Bloomberg had expected the report to show 8.35 million openings in April. Investors have closely watched the JOLTS report, along with other key labor market data, for signs that cooling labor demand could help inflation pressures ease, strengthening the case for the Federal Reserve to begin lowering interest rates from 23-year highs.

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