Get the latest tech news
US Job openings fall to new 3-year low
The number of job openings in the US shrank for the second month in a row, setting a new three-year low amid further signals of cooling in the labor market.
The job market has been historically strong during the past couple of years, providing a firm foundation for hearty consumer spending that has propelled the economy forward despite dueling pressures of elevated inflation and high interest rates. However, layoffs remain low, so net job growth should continue to be positive,” Nancy Vanden Houten, lead US economist at Oxford Economics, wrote in a note issued Tuesday. “The Federal Reserve will welcome signs of cooler labor market conditions, but the JOLTS data don’t change our view that the Fed will be content to keep interest rates at current levels until September,” Vanden Houten wrote.
Or read this on Hacker News