- The Job Openings and Labor Turnover numbers are watched closely by the Federal Reserve, which is trying to reverse runaway inflation that has been pushed by the tight labor market.One primary area of interest for the central bank has been the ultra-tight labor market, which had been showing about two job openings for every available worker.The job market has been a primary driver of inflation, as the outsized demand for the scarce labor pool has helped drive up wages sharply."But judging by the drop in openings and the high number of Americans who entered the labor force in August, almost 900,000, the worst of the tight labor market is over."The labor market has shown little reaction to the moves, with weekly jobless claims recently hitting a five-month low and the unemployment rate at 3.7%."