November 30, 2023

News Collective

Complete New Zealand News World

US job openings rose unexpectedly for a second month

US job openings rose unexpectedly for a second month

In September, a US Bureau of Labor Statistics report showed an unexpected increase in job openings, exceeding previous estimates. (Reuters/Megan Varner)

In the latest report of US Bureau of Labor Statistics (BLS), an unexpected surge in job offers is evident in September. The number of available jobs rose from 9.5 million in August to 9.6 million, highlighting continued demand for labor in many areas of the economy. In addition, there was also a slight increase in hiring, while layoffs decreased.

This number was higher than the average estimate of 9.4 million according to a World Health Organization survey Bloomberg. As investors analyzed the new economic information, stocks rose. Likewise, in response to an advertisement US Department of Treasury After the pace of increase in long-term debt sales slowed each quarter, Treasuries recorded a rebound.

The statistic known as the “dismissal rate,” which measures the number of employees who voluntarily leave their jobs relative to total employment, remained stable at 2.3% for the third month in a row, the lowest number since the beginning of 2021.

While the increase in September was not particularly significant, it demonstrated the resilience of the labor market by adding more than half a million to the previous figure. He pointed out that the biggest driver of this increase was the opening in the accommodation and food services sectors. Bloomberg.

See also  Ferragamo opened the year with -6 percent sales

On the other hand, these details painted a more detailed picture of employment in September, although the report showed that it was generally flat. With this progress, it is expected that 180,000 jobs will be added in October, keeping the unemployment rate stable, as expected in the latest monthly employment report that will be released in the coming days.

for now, Letters of News It was reported that officials in Federal Reserve They expect interest rates to remain unchanged after their meeting on Thursday, November 2. As they seek to balance the consequences of previous interest rate increases, they remain optimistic about achieving a so-called “soft landing,” that is, raising interest rates enough to contain price increases without destabilizing the economy.

The hotel and restaurant sector is having difficulty retaining employees. The increasing number of job openings in these sectors underscores the challenges they have faced since the beginning of the pandemic. (Instagram @mihotelprincess)

Finally, it is worth noting the increase in job vacancies in hotels and restaurants, with a total of 141 thousand jobs, which indicates the difficulties these sectors have faced in attracting and retaining workers since the emergence of the Covid-19 pandemic at the beginning of 2020.

at the same time, Federal Reserve The labor market is expected to slow to prevent strong hiring pressures from forcing companies to raise wages, which could lead to inflation.