Job openings in the U.S. fell to a three-year low in March, one sign that labor market conditions are cooling, which could aid the fight against inflation, Reuters reports.
The number of people who quit their jobs also declined, according to the Job Openings and Labor Turnover Survey report from the Labor Department released Wednesday.
Job openings were down 325,000 to 8.488 million on March 31, the lowest since February 2021.
Vacancies, on the other hand, reached a record 12.182 million in March 2022. There were 1.32 job openings for every unemployed person, down from February.
Construction led the decline in job openings in March, followed by the finance and insurance sectors.
