U.S. Job Openings Rise in October, Signaling Ongoing Labor Market Tightness
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U.S. job openings rose more than expected in October to 9.6 million, indicating labor market remains tight.
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Higher job openings could give Fed more room to continue raising interest rates to fight inflation.
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Job openings increased largely in bars, restaurants, arts, entertainment and recreation services.
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Number of Americans quitting jobs ticked higher to 3.7 million, showing workers remain confident in finding new jobs.
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Layoffs declined in October from 1.7 million to 1.5 million.