Key labor market metrics deteriorate, just like the Fed wants 😈

Will it lead to cooler wage growth and falling inflation? 🤔

Less help wanted. (Source: Getty Images)

There are fewer job openings out there.

While any cooling in the labor market may be unfavorable for jobseekers, it’s exactly what the Federal Reserve has been aiming for in its fight to bring down inflation. (Read more about that here.)

According to BLS data released Tuesday, U.S. employers had 10.05 million job openings listed in August. This is down from 11.17 million job openings in July, and the change represents the largest monthly drop since April 2020.