Job Openings Fall Below 10M For First Time in 2 Years

Job openings fell below 10 million for the first time in two years, according to the Labor Department’s Job Openings and Labor Turnover Survey, with available positions totaling 9.93 million, falling 632,000 from January. The latest figures bring the ratio of workers to job openings down from 1.7 to 1 from nearly 2 to 1. The hot labor market peaked at a 41-year high in the summer of 2022, which has drawn the attention of the Federal Reserve. The central bank has raised benchmark interest rates nine times since March 2022.