Job openings in April fell to the lowest level in more than three years, a sign that the labor market is cooling as the Federal Reserve keeps interest rates high.

Job openings fell 5% in April to just under 8.1 million, a decline of about 19% from a year ago, the Bureau of Labor Statistics reported in an update to the Job Openings and Labor Turnover Survey. That marks the least monthly job openings since February 2021, when the labor market was still struggling to bounce back from pandemic-related disturbances.

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