Welcome news: A hiring sign is seen in a cafe in Manhattan. There were 1.7 job openings for every unemployed person in February in the United States, down from 1.9 in January. — Reuters
WASHINGTON: US job openings dropped to their lowest level in nearly two years in February, suggesting that labour market conditions were finally easing, which is welcome news for the US Federal Reserve (Fed) as it considers whether to pause its interest rate hike cycle.
Despite the larger-than-expected decline in job vacancies reported by the Labour Department on Tuesday, the labour market remains tight, with 1.7 job openings for every unemployed person in February, down from 1.9 in January.
