Job Openings Remain High in September, Keeping Pressure on Fed
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Job openings were steady in September at 9.6 million, slightly up from August. The quit rate was unchanged at 2.3%.
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The Fed monitors job openings to see if the economy is overheating. They want a "soft landing" with low inflation and unemployment.
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Openings are down from a March 2022 peak, suggesting rate hikes are cooling the economy. The Fed may not need more hikes.
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But openings are still high historically, with 1.5 unemployed workers per job. Inflation remains above the Fed's 2% target.
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October's jobs report on Friday will provide more clues. Economists expect slower hiring of 180,000 jobs and a tick up in unemployment.