WASHINGTON — U.S. job openings unexpectedly rose in August, another sign the U.S. labor market remains strong desite higher interest rates — perhaps too strong for the inflation fighters at the Federal Reserve.
Nick Bunker, head of economic research at the Indeed Hiring Lab, noted that most of the August increase in openings came from just one industry: professional and business services.""Yes, the job market is still retaining a lot of heat,'' he said,"but it hasn't gone back on the boil.'' Fed Chair Jerome Powell has expressed hope that hiring would moderate in the least painful way possible — with fewer vacancies and less job-hopping rather than through layoffs.
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More evidence that the US job market remains hot after US job openings rise unexpectedly in AugustWASHINGTON (AP) — U.S. job openings unexpectedly rose in August, another sign the U.S. labor market remains strong desite higher interest rates — perhaps too strong for the inflation fighters at the Federal Reserve. American employers posted 9.6 million job openings in August, up from 8.9 million in July and the first uptick in three months, the Labor Department said Tuesday. Economists had expected only another 8.9 million vacancies. The number of layoffs and of people quitting their jobs — a s
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U.S. job openings unexpectedly rose in August as labour market remains tightCurrent U.S. labour market conditions may compel the Federal Reserve to raise interest rates next month
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