{"id":52821,"date":"2023-12-05T17:38:17","date_gmt":"2023-12-05T17:38:17","guid":{"rendered":"https:\/\/prosfunds.com\/business\/us-job-openings-drop-to-lowest-level-in-more-than-2-years\/"},"modified":"2023-12-05T17:38:17","modified_gmt":"2023-12-05T17:38:17","slug":"us-job-openings-drop-to-lowest-level-in-more-than-2-years","status":"publish","type":"post","link":"https:\/\/prosfunds.com\/?p=52821","title":{"rendered":"US job openings drop to lowest level in more than 2 years"},"content":{"rendered":"<div>\n<p>Unlock the Editor\u2019s Digest for free<\/p>\n<p class=\"article__content-sign-up-topic-description\"><span>Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.<\/span><\/p>\n<p><iframe class=\"article__content-sign-up-iframe close\" scrolling=\"no\" id=\"signUpIframe\" data-prev-url=\"\/register\/in-article-sign-up?ft-content-uuid=f33ec2b9-4312-401f-af28-0c1504d0520a\"><\/iframe><\/div>\n<div id=\"article-body\">\n<p>US job openings fell to their lowest level in more than two years in October, another sign of a cooling labour market that sparked a rally in government debt as traders bet on less aggressive monetary policy from the Federal Reserve. <\/p>\n<p>The job-openings data offers more evidence that the US central bank\u2019s efforts to damp demand with high interest rates is working \u2014 although officials insist cuts to rates are not on the cards in the near term.<\/p>\n<p>US businesses advertised 8.7mn job vacancies in October, down from 9.6mn in September, according to the labour department\u2019s Job Openings and Labor Turnover Survey released on Tuesday. It is the lowest level of openings since March 2021. <\/p>\n<p>Economists surveyed by LSEG, who consider job openings to be a proxy for labour demand, had been expecting 9.3mn openings.<\/p>\n<p>Demand for labour surged during the pandemic, pushing up wage growth, but job openings have largely trended downwards since 2022. October\u2019s drop was driven by fewer openings in the healthcare, financial activities and retail sector. <\/p>\n<p>While job openings figures can be volatile, lay-offs held steady at 1.6mn and the number of workers quitting remained unchanged at 3.6mn \u2014 another indicator of softening in the labour market. <\/p>\n<p>Nick Bunker, an economist at the jobs site Indeed, said that the sharp drop in job openings combined with steady hiring show that the labour market was \u201crebalancing\u201d to pre-pandemic levels. <\/p>\n<p>\u201cAfter years of excitement, the US labour market is ready for some boring times,\u201d he said.<\/p>\n<p>Treasury yields fell before the jobs report, after a top European Central Bank official said that further rate rises in the eurozone were \u201crather unlikely\u201d, prompting a rally in US bonds. After the job openings figures the benchmark 10-year yield was down 0.1 percentage points at 4.19 per cent.<\/p>\n<p>The Nasdaq Composite was up 0.3 per cent in New York mid-morning, while the S&amp;P 500 was flat.<\/p>\n<p>The latest sign that demand across the US labour market is softening will be welcomed at the Fed, which is debating how much more to squeeze the economy to get inflation under control. Officials will also be watching closely on Friday when the latest monthly payrolls data is published.<\/p>\n<p>The US central bank is set to keep the federal funds rate steady at a 22-year high of 5.25-5.5 per cent when it meets later this month \u2014 a level that has been in place since July. <\/p>\n<p>Before the Fed considers new cuts it will need to be confident that inflation is moving back to its longstanding 2 per cent target, a conclusion that will entail evidence that consumer price growth is moderating. Further signs of labour market cooling will also be necessary.<\/p>\n<p>Jay Powell, the Fed chair, said last week that the central bank\u2019s plan would be to \u201clet the data reveal the appropriate path\u201d.<\/p>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.ft.com\/content\/f33ec2b9-4312-401f-af28-0c1504d0520a\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Unlock the Editor\u2019s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. US job openings fell to their lowest level in more than two years in October, another sign of a cooling labour market that sparked a rally in government debt as traders bet on less aggressive [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[23],"tags":[],"class_list":{"0":"post-52821","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>US job openings drop to lowest level in more than 2 years | Prosfunds<\/title>\n<meta name=\"description\" content=\"Unlock the Editor\u2019s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.US job openings fell to their\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/prosfunds.com\/?p=52821\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"US job openings drop to lowest level in more than 2 years | Prosfunds\" \/>\n<meta property=\"og:description\" content=\"Unlock the Editor\u2019s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.US job openings fell to their\" \/>\n<meta property=\"og:url\" content=\"https:\/\/prosfunds.com\/?p=52821\" \/>\n<meta property=\"og:site_name\" content=\"Prosfunds\" \/>\n<meta property=\"article:published_time\" content=\"2023-12-05T17:38:17+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/prosfunds.com\/wp-content\/uploads\/2023\/08\/ff-wall.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1080\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/prosfunds.com\/?p=52821#article\",\"isPartOf\":{\"@id\":\"https:\/\/prosfunds.com\/?p=52821\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/prosfunds.com\/#\/schema\/person\/bab8f1b00ccebe43e39ff640793108e6\"},\"headline\":\"US job openings drop to lowest level in more than 2 years\",\"datePublished\":\"2023-12-05T17:38:17+00:00\",\"dateModified\":\"2023-12-05T17:38:17+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/prosfunds.com\/?p=52821\"},\"wordCount\":503,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/prosfunds.com\/#organization\"},\"articleSection\":[\"Business\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/prosfunds.com\/?p=52821#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/prosfunds.com\/?p=52821\",\"url\":\"https:\/\/prosfunds.com\/?p=52821\",\"name\":\"US job openings drop to lowest level in more than 2 years | Prosfunds\",\"isPartOf\":{\"@id\":\"https:\/\/prosfunds.com\/#website\"},\"datePublished\":\"2023-12-05T17:38:17+00:00\",\"dateModified\":\"2023-12-05T17:38:17+00:00\",\"description\":\"Unlock the Editor\u2019s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.US job openings fell to their\",\"breadcrumb\":{\"@id\":\"https:\/\/prosfunds.com\/?p=52821#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/prosfunds.com\/?p=52821\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/prosfunds.com\/?p=52821#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/prosfunds.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"US job openings drop to lowest level in more than 2 years\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/prosfunds.com\/#website\",\"url\":\"https:\/\/prosfunds.com\/\",\"name\":\"Funding Factories\",\"description\":\"Latest Finance News and Updates\",\"publisher\":{\"@id\":\"https:\/\/prosfunds.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/prosfunds.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/prosfunds.com\/#organization\",\"name\":\"Funding Factories\",\"url\":\"https:\/\/prosfunds.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/prosfunds.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/prosfunds.com\/wp-content\/uploads\/2023\/08\/ff-dark-logo-1.png\",\"contentUrl\":\"https:\/\/prosfunds.com\/wp-content\/uploads\/2023\/08\/ff-dark-logo-1.png\",\"width\":780,\"height\":140,\"caption\":\"Funding Factories\"},\"image\":{\"@id\":\"https:\/\/prosfunds.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/prosfunds.com\/#\/schema\/person\/bab8f1b00ccebe43e39ff640793108e6\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/prosfunds.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/prosfunds.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1693518183-96x96.png\",\"contentUrl\":\"https:\/\/prosfunds.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1693518183-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/prosfunds.com\"],\"url\":\"https:\/\/prosfunds.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"US job openings drop to lowest level in more than 2 years | Prosfunds","description":"Unlock the Editor\u2019s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.US job openings fell to their","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/prosfunds.com\/?p=52821","og_locale":"en_US","og_type":"article","og_title":"US job openings drop to lowest level in more than 2 years | Prosfunds","og_description":"Unlock the Editor\u2019s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.US job openings fell to their","og_url":"https:\/\/prosfunds.com\/?p=52821","og_site_name":"Prosfunds","article_published_time":"2023-12-05T17:38:17+00:00","og_image":[{"width":1920,"height":1080,"url":"https:\/\/prosfunds.com\/wp-content\/uploads\/2023\/08\/ff-wall.jpg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/prosfunds.com\/?p=52821#article","isPartOf":{"@id":"https:\/\/prosfunds.com\/?p=52821"},"author":{"name":"News Room","@id":"https:\/\/prosfunds.com\/#\/schema\/person\/bab8f1b00ccebe43e39ff640793108e6"},"headline":"US job openings drop to lowest level in more than 2 years","datePublished":"2023-12-05T17:38:17+00:00","dateModified":"2023-12-05T17:38:17+00:00","mainEntityOfPage":{"@id":"https:\/\/prosfunds.com\/?p=52821"},"wordCount":503,"commentCount":0,"publisher":{"@id":"https:\/\/prosfunds.com\/#organization"},"articleSection":["Business"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/prosfunds.com\/?p=52821#respond"]}]},{"@type":"WebPage","@id":"https:\/\/prosfunds.com\/?p=52821","url":"https:\/\/prosfunds.com\/?p=52821","name":"US job openings drop to lowest level in more than 2 years | Prosfunds","isPartOf":{"@id":"https:\/\/prosfunds.com\/#website"},"datePublished":"2023-12-05T17:38:17+00:00","dateModified":"2023-12-05T17:38:17+00:00","description":"Unlock the Editor\u2019s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.US job openings fell to their","breadcrumb":{"@id":"https:\/\/prosfunds.com\/?p=52821#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/prosfunds.com\/?p=52821"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/prosfunds.com\/?p=52821#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/prosfunds.com\/"},{"@type":"ListItem","position":2,"name":"US job openings drop to lowest level in more than 2 years"}]},{"@type":"WebSite","@id":"https:\/\/prosfunds.com\/#website","url":"https:\/\/prosfunds.com\/","name":"Funding Factories","description":"Latest Finance News and Updates","publisher":{"@id":"https:\/\/prosfunds.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/prosfunds.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/prosfunds.com\/#organization","name":"Funding Factories","url":"https:\/\/prosfunds.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/prosfunds.com\/#\/schema\/logo\/image\/","url":"https:\/\/prosfunds.com\/wp-content\/uploads\/2023\/08\/ff-dark-logo-1.png","contentUrl":"https:\/\/prosfunds.com\/wp-content\/uploads\/2023\/08\/ff-dark-logo-1.png","width":780,"height":140,"caption":"Funding Factories"},"image":{"@id":"https:\/\/prosfunds.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/prosfunds.com\/#\/schema\/person\/bab8f1b00ccebe43e39ff640793108e6","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/prosfunds.com\/#\/schema\/person\/image\/","url":"https:\/\/prosfunds.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1693518183-96x96.png","contentUrl":"https:\/\/prosfunds.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1693518183-96x96.png","caption":"News Room"},"sameAs":["https:\/\/prosfunds.com"],"url":"https:\/\/prosfunds.com\/?author=1"}]}},"_links":{"self":[{"href":"https:\/\/prosfunds.com\/index.php?rest_route=\/wp\/v2\/posts\/52821","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prosfunds.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prosfunds.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prosfunds.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prosfunds.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=52821"}],"version-history":[{"count":0,"href":"https:\/\/prosfunds.com\/index.php?rest_route=\/wp\/v2\/posts\/52821\/revisions"}],"wp:attachment":[{"href":"https:\/\/prosfunds.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=52821"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prosfunds.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=52821"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prosfunds.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=52821"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}