![]() Openings decreased across most major industries, but picked up in areas such as information and transportation, warehousing and utilities. “This is where we wanted to go we’ve got job openings heading downward, but in a calm, cool and collected manner,” Rachel Sederberg, senior economist with labor market research and analytics firm Lightcast, told CNN.Įconomists expected openings would drop to 9.465 million, according to Refinitiv consensus estimates. ![]() The central bank has tried to tame higher prices by ratcheting up interest rates in efforts to throw cold water on demand. An imbalance between worker demand and supply could cause wages to rise and, ultimately, add upward pressure on inflation. ![]() That’s good news for the Federal Reserve, which has been hoping for more slack in the labor market in its battle to bring down inflation. It’s the lowest number of total openings since March 2021, and there are now 1.5 available jobs for every unemployed person. Job openings fell to a seasonally adjusted 8.827 million in July, from 9.165 million in June, according to the BLS’ Job Openings and Labor Turnover Survey report. In addition, a smaller number of workers quit their jobs, businesses hired fewer workers and layoffs nudged higher as the US job market settles into a calmer, more balanced state. The number of available jobs in the United States shrank for the third consecutive month, dropping below 9 million for the first time since early 2021, according to the latest data released Tuesday by the Bureau of Labor Statistics.
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