US Job Market , Stayed Strong In September , Despite Fed's Rate Hikes.
In September, employers posted 9.6 million
job openings, an indicator that America's
job market remains strong. .
ABC reports that layoffs fell
from 1.7 million in August to
1.5 million in September. .
At the same time, unemployment
for the month had dropped to
3.8%, nearly a half-century low. .
Consumer prices remained 3.7% higher
than the same time in 2022, but were down
from a 9.1% peak reached in June of 2022. .
ABC reports that while job openings for September
were down from a record 12 million reached in
June, they remain high by historical standards. .
The strong performance of the job market comes
despite the Federal Reserve's efforts to fight
inflation, which aim to cool the job market. .
Since March of 2022, the Fed
has increased its benchmark
interest rate eleven times. .
ABC reports that the U.S. central bank is expected to
announce another pause in rate hikes for its second straight
meeting while it monitors the impact of previous increases.
ABC reports that the U.S. central bank is expected to
announce another pause in rate hikes for its second straight
meeting while it monitors the impact of previous increases.
The Fed is looking to accomplish a
"soft landing," raising rates enough to reign
in prices without triggering a recession. .
Analysts predict that U.S. employers added
another 189,000 jobs in October, which will be revealed in
the Labor Department's upcoming jobs report for the month.
Analysts predict that U.S. employers added
another 189,000 jobs in October, which will be revealed in
the Labor Department's upcoming jobs report for the month