CONNECT WITH US
Tech

Tech

U.S. job postings rose sharply in September

Fast Company logo

Published on

Add as a preferred source on Google
U.S. job postings rose sharply in September

U.S. employers ramped up their job postings in September as stronger economic growth may be encouraging more hiring. Yet voters are headed to the polls Tuesday, largely gloomy over an economy beset by higher prices.

U.S. job openings jumped to 7.5 million from a revised 7.19 million in August, the Labor Department reported Tuesday. It is the largest number of openings since May and up from a recent low of 6.9 million in March.

The department’s Job Openings and Labor Turnover Survey (JOLTS) also showed that gross hiring—job gains before subtracting people who quit or lost jobs—rose and layoffs fell in September.

The increases are a hopeful sign that hiring could improve, but the trend would have to continue for several months to suggest real progress. Hiring has been sluggish for nearly three years, though layoffs have also been historically low, a sign of meager “churn” in the labor market. Low churn means those who are employed are enjoying relatively high levels of job security, but it is much harder than normal for those looking for work to find a job.

Still, the number of job openings now exceeds the number of unemployed, a sharp switch from a year ago when there were more people out of work than available jobs.

“It’s an encouraging sign that despite all the headwinds right now with high diesel and gas prices and ongoing inflation problems, companies are slowly increasing their hiring,” Heather Long, chief economist at Navy Federal Credit Union, said.


Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We TheMorningPulse.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It's possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.