January US job openings dip, but still high at 10.8 million
1 year, 9 months ago

January US job openings dip, but still high at 10.8 million

Associated Press  

WASHINGTON — U.S. employers posted 10.8 million job openings in January, indicating the American job market continues to run too hot for the inflation fighters at the Federal Reserve. “The JOLTS report showed only a slight slowing in the robust labor market, keeping opportunities plentiful for workers looking for better, higher paying jobs,’ said Robert Frick, economist at Navy Federal Credit Union. “The report is another chunk of data pushing the Fed to raise’’ its benchmark rate by half a percentage point at its next meeting March 21-22, up from a quarter-point increase at its previous meeting, Jan. 31-Feb. 1 Fed policymakers are aiming for a soft landing — slowing the economy enough to contain inflation without causing much economic pain. One hope was that that employers would cut job openings — and ease upward pressure on wages that can feed inflation — and without actually cutting many jobs.

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