Job Openings Fall to Lowest Level in Nearly 2 Years in February
U.S. job openings, a measure of labor demand, dropped to their lowest level in nearly two years in February, a potential sign that tight labor market conditions are finally easing.
This could be good news for the Federal Reserve’s aggressive interest rate policy, as it considers whether to pause its cycle of rate hikes.
However, the labor market remains tight, according to the Labor Department’s monthly Job Openings and Labor Turnover Survey, or JOLTS report, published on April 4.
The Fed historically watches the JOLTS report, as it tries to gauge labor market tightness and keep inflation under control….