All articles tagged with #labor demand
US job openings increased to 7.74 million in October, up from 7.37 million in September, indicating a stabilization in labor demand as layoffs eased, according to the Bureau of Labor Statistics' JOLTS report.
U.S. job openings fell to 8.059 million in April, the lowest in over three years, indicating a cooling labor market that could aid the Federal Reserve's efforts to control inflation. The ratio of job openings to job-seekers dropped to 1.24, the lowest since June 2021. The Fed is expected to maintain its current policy rate, with potential rate cuts anticipated later in the year if inflation trends downward.
Wall Street's main indexes extended gains as weaker-than-expected job openings data indicated easing labor demand, raising hopes that the Federal Reserve was nearing the end of its rate-hike cycle. The Labor Department's Job Openings and Labor Turnover Survey (JOLTS) revealed a decline in job openings to 8.827 million in July from 9.582 million in June, below analysts' expectations. Additionally, a report from the Conference Board showed a drop in consumer confidence in the United States in August.