U.S. employers pulled back sharply on job openings, while layoffs rose in August, adding to signs the labor market and overall economy are cooling.
Employers’ total job openings fell 10% in August to a seasonally adjusted 10.1 million from 11.2 million the month before, the Labor Department said Tuesday. The 1.1-million drop in openings is the largest decline since the early months of the Covid-19 pandemic in 2020, leaving job openings at their lowest level in a year.
