That’s the lowest number job openings seen during a month since March 2021 and is further evidence of a cooling US labor market, according to the BLS’ October Job Openings and Labor Turnover Survey report. October’s tally is significantly lower than the record 12.03 million positions hit in March 2022, and the figure is approaching the roughly 7 million openings seen pre-pandemic. After two consecutive months of JOLTS surprising to the upside, the latest job openings total came in well under expectations. Economists’ forecasts called for the October postings to hit 9.3 million, according to Refinitiv consensus estimates. Employers, employees more cautiousThe Federal Reserve has been hoping to see more slack in the labor market to help in the central bank’s fight to bring down inflation.

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Persons: ” Karin Kimbrough, “, ” Kimbrough, “ They’ve, Tuesday’s, Kimbrough, ”, “ They’re, Wells, Sarah House, Michael Pugliese Organizations: Minneapolis CNN —, Bureau of Labor Statistics, BLS, Labor, CNN, Federal Reserve, Employees, “ Locations: Minneapolis