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US JOB OPENINGS LOWEST IN MORE THAN 2-1/2 YEARS

NEWS Desk Global

U.S. job openings dropped to more than a 2-1/2-year low in October, the strongest sign yet that demand for labor was cooling amid higher interest rates.

The Labor Department's Job Openings and Labor Turnover Survey, or JOLTS report, on Tuesday also showed that there were 1.34 vacancies for every unemployed person in October, the lowest since August 2021. There were fewer resignations, with workers generally staying put at their jobs, which over time could help to ease wage inflation.

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