US job openings rise to 8.1 million despite higher interest rates
5 months, 2 weeks ago

US job openings rise to 8.1 million despite higher interest rates

Hindustan Times  

U.S. job openings rose slightly to 8.1 million in May despite the impact of higher interest rates intended to cool the labor market. Vacancies rose from a revised 7.9 million in April, the first reading below 8 million since February 2021, the Labor Department reported Tuesday. The U.S. economy and job market have been remarkably resilient in the face of the Federal Reserve's campaign to raise interest rates to rein in inflation. Fed policymakers welcome lower job openings — a relatively painless way to cool a hot job market and reduce pressure on companies to raise wages, which can feed inflation.

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