6 sources·Business

U.S. Job Openings Fall to Lowest Level Since January 2021 Amid Cooling Labor Market

The latest data shows a decline in U.S. job openings and a decrease in worker confidence, indicating a cooling labor market.

33%

17%

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Updated: Oct 29th, 2024, 4:40 PM ET

Summary

A summary of the key points of this story verified across multiple sources.

The U.S. job openings dropped to 7.4 million in September, the lowest since January 2021, signaling a cooling labor market. Layoffs increased and the quits rate fell below 3.1 million, indicating reduced confidence among workers. While job creation slowed to an average of 200,000 new jobs per month this year, employers added 254,000 in September. Despite these adjustments, the job market remains stronger than pre-pandemic levels. The upcoming economic data reports may be affected by external factors such as strikes and hurricanes.

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