Job openings rose in first report since election
By
Zach Halaschak
December 3, 2024 10:59 am
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Job openings rose in the first report since the election, a welcome sign for the economy as the Federal Reserve eyes further interest rate cuts.
October job openings rose to 7.7 million, an increase of about 370,000 from the month before, the Bureau of Labor Statistics reported in an update to the Job Openings and Labor Turnover Survey. Still, job openings are down more than 940,000 over the year.
Most economists expected that job openings would rise to about 7.5 million, so the report was better than forecast.
Job openings have trended down in the past few years, a sign that the jobs market is beginning to soften under the weight of the Fed’s efforts to tighten monetary policy.
Hiring was little changed in October. The hires rate was at 3.3%.
About 3.3 million workers quit their jobs in October, up 228,000 from the month before.
more
https://www.washingtonexaminer.com/policy/finance-and-economy/3248221/job-openings-rose-first-report-since-election/
