US Job Openings Drop to Lowest Level Since 2021, Indicating Labor Market Cooling

April saw job openings fall to 8.06 million, signaling a shift towards pre-pandemic labor market conditions.

Job openings fell by nearly 300,000 in April to 8.06 million, the lowest since February 2021.
The ratio of job openings to unemployed workers dropped to 1.24, matching pre-pandemic levels.
Layoffs remained low, while quits increased slightly, showing worker confidence in finding new jobs.
The cooling labor market may influence the Federal Reserve's decisions on interest rates.
Despite the slowdown, job openings remain historically high, reflecting strong labor demand.