WASHINGTON — Employers posted 9.6 million job openings in September, up from 9.5 million in August and a sign that the U.S. job market remains strong even as the U.S. Federal Reserve attempts to cool the economy.
The September openings are down from a record 12 million in March 2022 but remain high by historical standards. Before 2021 — when the American economy began to surge from the COVID-19 pandemic — monthly job openings had never topped 8 million. Unemployment was 3.8% in September, just a couple of ticks above a half century low.
The Federal Reserve's inflation fighters would like to see the job market cool. They worry that strong hiring pressures employers into raising wages — and trying to pass the higher costs along with price increases that feed inflation.