US job openings fell to the lowest level in more than three years in July, keeping the Federal Reserve on track to lower interest rates later this month.
There were 7.7mn job vacancies in July, according to the labour department’s Job Openings and Labor Turnover Survey released on Wednesday. That was down from 7.9mn in June, and the lowest total since January 2021.
Economists, who consider job openings to be a proxy for labour demand, had been expecting 8.1mn openings, according to a Reuters poll.
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