New US job openings hit two-year low in November

On Wednesday, the U.S. Department of Labor released a new report signaling that U.S. job openings sunk to a two-year low in November 2023.

According to the report, there were 8.79 million job openings in November, down from October’s revised number of 8.85 million available posts.

However, November’s figures still sat in line with analysts’ predictions of 8.77 million job openings.

“Today’s report is good news for American workers and the economy, but it also suggests to me that the Fed is unlikely to cut rates as aggressively in 2024, as markets currently indicate, given the risk of reigniting inflationary pressures,” said Lazard chief market strategist Ron Temple.