US Job Openings Dip But Remain High

US Job Openings Dip , But Remain High.
ABC reports that U.S. job openings fell in May
but managed to tread water at levels high enough
to suggest that the labor market remains
resilient amid high interest rates.
ABC reports that U.S. job openings fell in May
but managed to tread water at levels high enough
to suggest that the labor market remains
resilient amid high interest rates.
On July 6, the U.S. Labor Department said that
employers posted 9.8 million job openings in
May, down from April's 10.3 million.
Meanwhile, the number of layoffs fell slightly,
while more U.S. workers quit their jobs.
ABC reports that the numbers suggest those
who quit felt confident they could find better-
paying jobs with improved working conditions. .
While the number of job openings in health care,
insurance and finance fell, the number of postings
for education and government positions increased.
According to Nick Bunker, research
director at the Indeed Hiring Lab, , "demand for new hires remains
elevated and employers are still
holding onto the workers they have.''.
Bunker says the Labor Department's Job
Openings and Labor Turnover Survey (JOLTS), , "continues to reflect a gradually slowing
yet still-robust labor market, one that is
cooler than a year ago but still hot.".
ABC reports that compared to historic standards,
the current number of job openings remains high,
despite the Federal Reserve's aggressive rate hikes. .
ABC reports that compared to historic standards,
the current number of job openings remains high,
despite the Federal Reserve's aggressive rate hikes. .
Since March of last year, the Fed
has increased its benchmark short-term
interest rate a total of ten times.
Since March of last year, the Fed
has increased its benchmark short-term
interest rate a total of ten times.
As a result, economic growth has slowed,
while consumer prices increased 4% in
May, twice the Fed's stated 2% goal.