Job openings unexpectedly fell in November and hiring slowed, raising concerns that the Federal Reserve’s monetary policy may have been too restrictive for too long.
Employers said there were 7.15 million at the end of November, the Department of Labor said in its monthly Job Openings and Labor Turnover Survey report.
This was a decline from the downwardly revised estimate of 7.45 million openbings in the prior month. The first estimate had the prior month’s openings at 7.67 million. Economists had forecast November to come in at 7.65 million. The result reported Wednesday was below even the most pessimistic estimates.
The retreat in openings…
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