Job Openings Plunged By 1.1 Million In August

  • Job openings in August totaled 10.05 million, a 10% drop from the 11.17 million reported in July and more than a million less than expected.
  • The Job Openings and Labor Turnover numbers are watched closely by the Federal Reserve, which is trying to reverse runaway inflation that has been pushed by the tight labor market.
  • The job market has been a primary driver of inflation, as the outsized demand for the scarce labor pool has helped drive up wages sharpl