Job openings have been edging lower since April as rising inflation tightened its grip on businesses and crimped consumer spending.
In June, openings fell to 10.7 million, their lowest levels since September. Openings are still at an historically high level, having never exceeded 8 million in a month prior to a year ago.
The Fed has been aggressively raising interest rates in an effort to slow the economy and cool the hottest inflation in four decades. The central bank has raised its key short-term interest rate to the highest level since 2018.A key concern from Wall Street is that the Fed's rate hikes could be too aggressive and push the economy into a recession.
“We need fewer job openings, which reduces the chances of bidding wars for talent and we’re starting to see that," said ” Jeff Buchbinder, equity strategist for LPL Financial.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Asian markets rise modestly ahead of U.S. jobs dataAsian stock markets rose Friday ahead of an update on the health of the U.S. jobs market while the Federal Reserve weighs whether more rate hikes are needed...
Read more »
Goldman Sachs warns stock market may not have hit bottom yetThe stock market relief rally could fade soon as investors confront scorching-hot inflation and continued interest rate hikes from the Federal Reserve.
Read more »
European Markets Head for Higher Open; Big Bank of England Hike ExpectedEuropean stocks are expected to open higher on Thursday, builing on gains made in the previous session.
Read more »
Bay Area arts: 7 cool shows, festivals to catch this weekendWhat’s on tap: S.F. Symphony goes to the movies; Help Is on the Way returns; hard-hitting satire ‘Dreamhou$e’; Playwrights Fest; Concord Jazz Fest.
Read more »
US Dollar Forecast: DXY Index, USD/JPY Rates Find Support – For NowThe US Dollar's (via the DXY Index) rebound in recent days has been catalyzed by familiar forces: US Treasury yields turning higher as near-term Fed rate hike odds increase.
Read more »
Higher prices lead to higher wages, which fuel higher prices. The Fed must break this cycle with aggressive rate increases.OPINION: For now, the Federal Reserve needs to follow the same principle that made it so successful in helping to prevent economic collapse in 2020: err on the side of doing too much, not too little.
Read more »