Job openings in the U.S. fell to 7.57 million in February, nearing a four-year low and signaling a gradual labor market cooldown.

This marks a drop from 7.76 million in January, with openings remaining at their lowest since last September.

Despite this, economists believe the labor market is stable enough for the Federal Reserve to maintain interest rates. Investor expectations of a rate cut by June stand at 66%.

Consumer sentiment on employment is worsening, with two-thirds expecting rising unemployment, the highest since 2009, Yahoo Finance has reported.

The March jobs report is projected to show 140,000 new jobs, with the unemployment rate holding at 4.1%.

Written by B.C. Begley