Economy

Job openings tumbled below 10 million

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A call for employment sign is displayed on a Dollar General convenience store on March 10, 2023 in Austin, Texas. 

Brandon Bell | Getty Images

Job openings fell below 10 million in February for the first time in nearly two years, in a sign that the Federal Reserve’s efforts to slow the labor market may be having some impact.

Available positions totaled 9.93 million, a drop of 632,000 from January’s downwardly revised number, the Labor Department reported Tuesday in its monthly Job Openings and Labor Turnover Survey. Wall Street had been looking for 10.4 million, according to FactSet.

It was the first time vacancies fell below 10 million since May 2021.

The Fed has targeted the red-hot labor…



Source cnbc.com

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