Job openings unexpectedly plunged by 1.1 million to the lowest level in over a year, hitting 10.1 million in August and representing the biggest one-month drop since April 2020. One economist says it's an “ominous sign” of a weakening labor market that is cooling in response to the Fed’s interest rate hikes—a welcome development for investors but a concerning predicament for millions of unemployed Americans.
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