US job openings decline as labor market steadily slows
U.S. job openings fell by the most in 14 months in December, but steady hiring and low layoffs suggested the labor market was not abruptly slowing down and that the Federal Reserve probably can hold off on cutting interest rates until at least June. The Labor Department's Job Openings and Labor Turnover Survey, or JOLTS report, on Tuesday showed there were 1.1 job openings for every unemployed person, down from 1.15 in November. Fed Chair Jerome Powell told reporters last week, "We do not need to be in a hurry to adjust our policy stance."
