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Job openings eased in October in early sign of a slowdown
Jobs report is very difficult to forecast: Chris Low
FHN Financial chief economist takes a closer look at consumer confidence falling for the second straight month on ‘Making Money.’
U.S. job openings decline in October after unexpectedly surging the previous month, an early sign that the still-tight labor market is starting to lose some steam.
The Labor Department said Tuesday that there were 10.3 million job openings in October – a sharply decline from the previous month's revised reading of 10.7 million.
The number of available jobs has topped 10 million for 12 consecutive months; before the pandemic began in February 2020, the highest on record was 7.7 million.
The Federal Reserve closely watches these figures as it tries to gauge labor market tightness; the decline in openings could provide some relief for policymakers as they try to slow the economy and cool painfully high inflation.
THE FED'S WAR ON INFLATION COULD COST 1M JOBS
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