Job Openings Climb Slightly, Indicating Labor Market Remains Hot and Inflation Risks High

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Job openings in the U.S. rose slightly in September to 9.6 million, defying predictions that demand for labor would cool after a blistering September hiring spree.

This represents an increase from the revised 9.5 million job openings at the end of August. The prior month was originally estimated at 9.6 million.The higher-than-expected and rising figure for job openings suggests the Federal Reserve’s attempt to cool off demand for labor is not having as much of an impact as central bankers had expected. Fed officials want to see openings fall to soften the labor market.

 

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