US Job Market Cools: 7.1 Million Openings Signal Shift

The red-hot US labor market showed signs of cooling in November. Job openings fell to 7.1 million, according to new federal data. This figure was below economist predictions. The decline suggests a gradual easing in employer demand for workers. However, the market remains historically tight. In a separate measure, American workers demonstrated continued confidence. About 3.2 million people voluntarily quit their jobs in November. This "quit rate" often reflects workers seeking better pay or conditions elsewhere. Employers also remained active, adding 5.1 million new hires during the month. This indicates ongoing recruitment despite the dip in open positions. The data is closely watched by the Federal Reserve. It signals whether extreme worker shortages and wage pressures are moderating.