By Lucia Mutikani
February 4, 2025 – 8:30 AM PST
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WASHINGTON (Reuters) – U.S. job openings dropped by the most in 14 months in December, but steady hiring and low layoffs suggested that the labor market was not abruptly slowing down and probably keep the Federal Reserve on the sidelines at least until June.
The Labor Department’s Job Openings and Labor Turnover Survey, or JOLTS report, on Tuesday showed there were 1.1 job openings for every unemployed person, down from 1.15 in November. Fed Chair Jerome Powell told reporters last week, “We do not need to be in a hurry to adjust our policy stance.”
“Labor demand is softening but not collapsing,” said Eugenio Aleman, chief economist…
