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Job openings fall as Fed continues to raise interest rates - Jacksonville Business Journal

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A million job openings vanished in August. Here's what it means.

found employers who are planning reductions to staffing levels now stands at about 30%, down slightly from the third quarter of 2022 as employers continue to battle for talent and focus on retention.

The latest data comes as the Federal Reserve continues to work to tame the hot job market through repeated interest rate hikes.said while the economy has slowed from its 2021 pandemic highs and higher interest rates have weakened the housing market and slowed business investment, the labor market has continued to stay strong.

Jeremy Bone, founder at Paceline Wealth Management who has managed bond portfolios for large organizations, said today’s data is a promising sign that recent fed actions could make some progress toward cooling the labor market and push inflation down to more manageable levels.

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