Report: Job openings are declining in the U.S.

FILE - The number of open jobs in the U.S. is on a decline, according to the JOLTS Survey.
FILE - The number of open jobs in the U.S. is on a decline, according to the JOLTS Survey.(WLOX)
Published: Oct. 4, 2022 at 8:31 PM CDT
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(CNN) - Reports are showing there are fewer places to pick up a paycheck in the U.S.

On Tuesday, the Bureau of Labor Statistics reported there were 10.1 million job openings last month. That’s down more than a million available positions compared to July, and the lowest it has been since June of 2021.

The most recent job openings and labor turnover survey, known as “JOLTS,” says there are nearly 1.7 vacancies for every person who is looking for a new job. That number is also down slightly from July.

The Federal Reserve likely is happy with a leaner labor market, and analysts say tight employment will likely increase wages and boost inflation.