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Reuters
US job openings hit lowest level in nearly two years; more workers quit
U.S. job openings dropped to their lowest level in nearly two years in February, suggesting that labor market conditions were finally easing, welcome news for the Federal Reserve as it considers whether to pause its interest rate hiking cycle. The decline in job openings occurred before the recent financial market turmoil, which led to tighter credit conditions and sparked fears of broad job losses in the economy. “This is another sign that the job market is cooling and is also a sign that we could see some downward pressure on wage demands and, thus, cooler inflation,” said Jennifer Lee, a senior economist at BMO Capital Markets in Toronto.
