U.S. job openings dropped in November to the lowest level in more than two years, the latest evidence that the Federal Reserve's interest-rate hike campaign is continuing to cool the labor market.

The Labor Department said Wednesday there were 8.79 million job openings in November, a decrease from the upward revised 8.85 million openings reported the previous month. Economists surveyed by Refinitiv expected a reading of 8.85 million.

It marked the lowest level for job openings since March 2021. 

The Federal Reserve closely watches these figures as it tries to gauge labor market tightness and wrestle inflation under control. 

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