Job openings fall below 10 million for first time in 2 years

As Americans are facing inflation they might also be seeing less job openings. Data from the Labor Department shows signs of a slowing labor market amid high borrowing costs from the Federal Reserve.

The government reported yesterday that there were almost 10 million job openings at the end of February, which means there were 1.7 job openings for every unemployed worker. But prior to this data, there were at least 2 open jobs for every American worker.

The data also shows that hires and separations dropped a little from January to February.

Quits rose by almost 150,000 – usually an indication in the confidence to switch jobs.