U.S. job openings tumbled in July to the lowest level in more than two years, the latest evidence that the Federal Reserve's interest-rate hike campaign is continuing to cool the once red-hot labor market.&nbsp;

The Labor Department said Tuesday there were 8.8 million job openings in July, a decline from the 9.1 million openings reported the previous month. Economists surveyed by Refinitiv expected a reading of 9.46 million.

It marked the lowest level for job openings since March 2021.&nbsp;

Still, job openings remain historically high. Before the <a href="https://www.foxbusiness.com/category/coronavirus" target="_blank">COVID-19 pandemic</a> began in early 2020, the highest on record was 7.6 million. There are roughly 1. 5 jobs per unemployed American.&nbsp;

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The number of available jobs in the U.S. plummeted more than expected in July to the lowest level in two years, a welcome sign for the Federal Reserve.{ai:summary}U.S. job openings hit a two-year low, signaling a decline in the once thriving labor market. The Federal Reserve's interest-rate hike campaign is believed to be a contributing factor. #economy

Job openings drop more than expected in July to 2-year low

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