Jobs data shows labor market coming into ‘better balance’ in welcome sign for the Fed

The US job market is finally normalizing after COVID threw it out of whack nearly four years ago.

The latest Job Openings and Labor Turnover Survey, or JOLTS report, released Tuesday revealed the ratio of job openings to the number of unemployed workers fell to 1.34, its lowest reading since August 2021.

The ratio’s decline shows the labor market is coming into “a better balance” between supply and demand, according to note from Oxford Economics lead US economist Nancy Vanden Houten.

Josh Schafer | Yahoo

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