Job openings tick up slightly in reassuring sign for labor market

Openings across all sectors increased to 11.2 million in July, up slightly from 10.7 million the month before, according to data released on Tuesday by the Bureau of Labor Statistics. The previous record number of job openings was notched in March, which was upwardly revised to 11.9 million.

The numbers come as the Fed jacks up interest rates more aggressively and tightens its monetary policy to combat explosive inflation. The central bank raised rates by half a percentage point in May and then took the even more aggressive step of hiking rates by three-fourths of a percentage point in June and July — the most ambitious upward hikes since 1994.

Fed Chairman Jerome Powell’s annual address at Jackson Hole, Wyoming, on Friday spooked investors because he hinted that another massive hike of 75 basis points might be in store following the central bank’s September meeting. Powell warned that the road to bringing down explosive inflation will likely entail some economic pain along the way.

The speech has contributed to fears that the United States is careening toward a recession, a scenario that some economists contend has already arrived.

France Dernières Nouvelles, France Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

U.S. job openings unexpectedly jump in July, defying labor market slowdown fearsEmployers had a historically high number of job openings in July, according to new government data — the latest sign of the ongoing voracious demand for workers. Go deeper: Weird recession Kill two birds with one stone - fill vacant jobs with imigrants and reduce inflation with their lower wages.
La source: axios - 🏆 302. / 63 Lire la suite »

Cold Summer For Italy’s EV Market — Plugin Vehicles Below 8% In JulyElectric vehicle sales in Italy are going through a time of turbulence. We walk you through the headwinds, tailwinds, and sidewinds in the monthly sales report below. Originally published on opportunity:energy. All is not well what's happening fiat
La source: cleantechnica - 🏆 565. / 51 Lire la suite »

Job market gains momentum in July despite recession signals elsewhereThe U.S. economy had about 11.2 million open jobs in July, the latest sign of strength in a historically strong labor market.
La source: WEWS - 🏆 323. / 59 Lire la suite »