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 (BLS) in its Job Openings and Labor Turnover Survey issued on Sept. 4.
