Openings fell in April to the lowest level since 2021, with employers posting about 8.06 million vacancies. Economists predict that openings fell again in May. Job openings are down from a peak of 12.2 million in March 2022, but remain at historically strong levels despite high interest rates and signs the economy is slowing.
The Federal Reserve delivers the minutes from its most recent interest rate policy meeting Wednesday. At the meeting, policymakers kept the central bank’s benchmark rate unchanged at roughly 5.3%, a 23-year high. Fed officials said that inflation, which is down from a peak of 9.1% two years ago, has fallen further toward their 2% target level in recent months. Even so, the Fed signaled it expects to cut interest rates just once this year.