US Unemployment Surpasses Job Openings, Fed Faces Pressure to Cut Rates

For the first time in years, the U.S. now has more unemployed people than available job openings, signaling a sharp deterioration in the labor market.

With the Federal Reserve set to meet in two weeks, this development could provide policymakers with a strong justification to cut rates, as officials may point to the collapsing labor market to defend a more dovish pivot.

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