Continued Strength in Job Market Expected to Encourage Record …

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Continued Strength In Job Market Expected To Encourage Record …

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Are job openings a sign of continued strength in the job market?

U.S. job openings rise slightly in sign of continued strength in the job market WASHINGTON (AP) — Employers posted 9.6 million job openings in September, up from 9.5 million in August and a sign that the U.S. job market remains strong in the face of higher interest rates. ...

Did the job market derail?

Instead, the labor market’s continued strength helped fuel consumer spending and economic growth during the past 12 months. The job market has indeed cooled down but did not derail despite 11 Fed hikes that brought the benchmark interest rate 5 percentage points higher in under two years’ time. ...

Will job growth step down in the second quarter of 2024?

However, the continued strength in job growth has led us to revisit our view that growth will step down materially in the second quarter of 2024, and we are revising up our outlook for annualized real GDP growth next quarter from 0.5% to 1.5%.” This points to some disconnect between predicted rate cuts, the economy and the labor market. ...

How has the job market adapted to the Fed's 11 rate hikes?

The latest figures reflected the job market’s sustained ability to withstand the 11 rate hikes the Fed imposed in its drive against inflation, which made borrowing much costlier for households and businesses. Employers have continued to hire briskly to meet steady demand from consumers across the economy. ...

Why is the job market important?

The strength of the job market is considered one important measure of the current health of the broader economy. If more jobs are being created and demand for labor is high, it tends to reaffirm the presence of an expanding economy. By contrast, higher unemployment levels and low job growth (or a decline in job growth) indicate a slowing economy. ...

Is the job market stabilizing?

Despite ticking down to 4.1% last month, unemployment remains at its highest level since November 2021. But the job market is beginning to show signs of stabilizing from all angles. Job openings hit a three-month high in August, increasing to 8.04 million, according to the BLS Job Openings and Labor Turnover Survey released Tuesday. ...