Job Openings Hit Two-Year Low As Labor Market Cools

US job openings dropped to lowest level since May 2021, reflecting slowing economy
Layoffs increased to highest level since December 2020, showing weakening job market
Fewer Americans quit their jobs, indicating declining confidence in job-switching
Declines were widespread across industries like transportation, warehousing, construction
Fed expected to raise interest rates again to curb high inflation and cool red-hot economy