{"id":1672181,"date":"2022-10-04T13:10:33","date_gmt":"2022-10-04T17:10:33","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1672181"},"modified":"2022-10-04T13:10:42","modified_gmt":"2022-10-04T17:10:42","slug":"job-openings-post-biggest-drop-since-start-of-pandemic","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/job-openings-post-biggest-drop-since-start-of-pandemic\/","title":{"rendered":"Job Openings Post Biggest Drop Since Start of Pandemic"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fjob-openings-post-biggest-drop-since-start-of-pandemic%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1672181&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>By Lucia Mutikani<\/p>\n<p>WASHINGTON (Reuters)\u2014U.S.\u00a0job\u00a0openings\u00a0fell by the most in nearly 2-1\/2 years in August, suggesting that the labor market was starting to cool as the economy grapples with higher interest rates aimed at dampening demand and taming inflation.<\/p>\n<p>Despite the fifth month of decreases in\u00a0job\u00a0openings\u00a0this year reported by the Labor Department in its\u00a0Job\u00a0Openings\u00a0and Labor Turnover Survey, or JOLTS report, on Tuesday, vacancies remained above 10 million for the 14th straight month.<\/p>\n<p>There were 1.7\u00a0job\u00a0openings\u00a0for every unemployed person in August, down from two in July, while layoffs remained low, signs of a still-tight labor market. This will likely keep the Federal Reserve on its aggressive monetary policy tightening path.<\/p>\n<p>&#8220;Even as higher interest rates and inflation, and weaker business and consumer confidence are beginning to tamp down labor market activity, the labor market still remains healthy,&#8221; said Sophia Koropeckyj, a senior economist at Moody&#8217;s Analytics in West Chester, Pennsylvania. &#8220;We expect that the Fed is not yet ready to pause.&#8221;<\/p>\n<p>Job\u00a0openings\u00a0dropped 1.1 million to 10.1 million on the last day of August, the lowest level since mid-2021. August&#8217;s decline was the largest since April 2020, when the economy was reeling from the first wave of the COVID-19 pandemic. Economists polled by Reuters had forecast 10.775 million vacancies.<\/p>\n<p>The decrease in\u00a0job\u00a0openings\u00a0was led by health care and social assistance, with a decline of 236,000. There were 183,000 fewer\u00a0job\u00a0openings\u00a0in other services, while vacancies decreased by 143,000 in the retail trade industry.<\/p>\n<p>The\u00a0job\u00a0openings\u00a0rate dropped to 6.2% from 6.8% in July. Hiring increased moderately, keeping the hiring rate at 4.1%.<\/p>\n<p>The Fed is trying to cool demand for labor and the overall economy to bring inflation down to its 2% target. The U.S. central bank has since March hiked its policy rate from near zero to the current range of 3.00% to 3.25%, and last month signaled larger increases were on the way this year.<\/p>\n<p>&#8220;The Fed will welcome this apparent decline in excess demand for labor in the hope that it eases wage pressures,&#8221; said Conrad DeQuadros, senior economic adviser at Brean Capital in New York. &#8220;However, the ratio of\u00a0job\u00a0openings\u00a0to unemployment in August was at<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Lucia Mutikani WASHINGTON (Reuters)\u2014U.S.\u00a0job\u00a0openings\u00a0fell by the most in nearly 2-1\/2 years in August, suggesting that the labor market was starting to cool as the economy grapples with higher interest rates aimed at dampening demand and taming inflation. Despite the fifth month of decreases in\u00a0job\u00a0openings\u00a0this year reported by the Labor Department in its\u00a0Job\u00a0Openings\u00a0and Labor Turnover [\u2026]<br \/>\nThe post Job Openings Post Biggest Drop Since Start of Pandemic appeared first on Washington Free Beacon.<\/p>\n","protected":false},"author":66,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1672181","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1672181","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1672181"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1672181\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1672181"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1672181"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1672181"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}