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AP National Business

Feb job openings slip to 9.9M; a win in inflation fight?

KION
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Published 7:22 AM

By PAUL WISEMAN
AP Economics Writer

WASHINGTON (AP) — U.S. job openings slipped to 9.9 million in February, fewest since May 2021  and a sign that the job market may be starting to cool, which would be welcome news for the inflation fighters at the Federal Reserve. The Labor Department said that vacancies were down from 10.6 million in January.The American job market has proven resilient in the face of sharply higher interest rates. Over the past year, the Fed has raised its benchmark rate nine times in a drive to corral inflation that last year hit a four-decade high. The surge in consumer prices has eased since mid-2022 but remains well over the central bank’s 2% year-over-year target.

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