The Labor Department reported Tuesday that the number of job openings dropped to 7.4 million in September from 7.9 million in August.
“Workers not as confident as they have been about being able to find a job if they quit without another to step into,″ Carl Weinberg and Rubeela Farooqi of High Frequency Economics wrote in a commentary.Did YouTube block Joe Rogan's interview with Trump from the results page?Still, they added, “there is no signal here of any sudden collapse of the labor market here or any imminent recession. The labor market is softer, sure, but it is not imploding.
The overheating economy caused an outburst of inflation, and the Federal Reserve responded by raising its benchmark interest rate 11 times in 2022 and 2023. Compared with a surge in hiring from 2021 through 2023, though, job creation has slowed this year — to an average of 200,000 new jobs a month from January through September this year.
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