US Job Openings Drop to Their Lowest Level Since January 2021

U.S. job openings plunged in July to their lowest level since January 2021, suggesting that the labor market is slowing down and may trigger the Federal Reserve to issue a large rate cut later this month. July’s job openings, considered a key measure of labor demand, fell by 237,000 to 7.673 million for the month, according to the Department of Labor’s Bureau of Labor Statistics in its Job Openings and Labor Turnover Survey issued on Wednesday. At the same time, data for June was revised lower to show 7.91 million unfilled positions instead of the previously reported 8.184 million, it found. Economists who had been polled by Reuters and Dow Jones had forecast about 8.1 million job openings for July....