US Job Openings Plummet to 8.7 Million in October, Stirring Concerns for Fed's Interest Rate Policy

InflationMoney Matters
Written By Jennifer Joslyn

In October, job openings in the United States decreased significantly to 8.7 million, marking the lowest level since March 2021, according to the Labor Department. This drop was below economists' expectations and may impact the Federal Reserve's interest rate policy, which has been closely tied to the labor market's health. While the labor market is cooling, it remains relatively strong for workers, with the unemployment rate at pre-pandemic levels, but it could influence the Fed's decision on further rate hikes in response to signs of economic cooling.

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Jennifer Joslyn
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