Job openings still high despite slip

WASHINGTON — U.S. job openings dropped in October but remained high, a sign that businesses became slightly less needy for workers as the Federal Reserve ramps up interest rates in an effort to cool the economy.

Employers posted 10.3 million job vacancies in October, down from 10.7 million in September, the Labor Department said Wednesday.

Even with the drop, openings were slightly lower in August, when they dipped below 10.3 million before rebounding the following month.

The number of people quitting their jobs also slipped in October, to 4 million from 4.1 million.

Job openings hit a two-decade record of 11.9 million in March.