U.S. job openings dropped in August to their lowest level since June of 2021, CNN reports Tuesday, per the Bureau of Labor Statistics.
The number of job openings dropped from 11.2 million in July to 10.1 million in August. The latest Job Openings and Labor Turnover Survey showed that the total number of job openings per employment-seeking individual has decreased from two to 1.7 per person. Per CNN, this decline in open positions is good news for the Federal Reserve, which has expressed concern that tight employment will increase wages and keep inflation elevated.
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