U.S. job openings fall to three-year low in April

The ratio, watched closely by Fed Chair Jerome Powell as a sign of labor market tightness, is well below its post-pandemic peak of nearly two to one, and now matches the high-water mark of pre-pandemic times.

U.S. job openings fell more than expected in April, pushing the number of available jobs per job-seeker to its lowest in nearly three years as labor market conditions soften in a manner that could help the Federal Reserve’s fight against inflation.