US Edition
US Job Openings Fall to 7.18 Million as Private Hiring Slows, Increasing Odds of a Fed Cut
Job openings in the U.S. dropped to 7.18 million, falling below unemployed workers for the first time since April 2021, signaling a shift to a demand-constrained labor market.
- In July, job openings in the U.S. declined to 7.18 million, while unemployment increased to 7.2 million, indicating a significant shift in the labor market.
- This marks the first time in over four years that job openings have been lower than the number of unemployed Americans, with a ratio of 0.99 jobs per unemployed person.
- The Federal Reserve considers this reversal of job vacancies to unemployed as a warning sign of potential economic weakness.
- Heather Long, the chief economist at Navy Federal Credit Union, stated that this situation represents a turning point in the labor market.
156 Articles
156 Articles
US companies laid off 85,980 employees in August, job openings at a year-low
US companies laid off 85,980 employees in August, marking the highest monthly total since 2020. Job openings also fell to a year-low, signalling a cooling labour market amid economic uncertainty.
The AEX is trading almost 1 percent higher mid-afternoon, with chipmakers like ASML, ASMI, and Besi surging after the tech rally on Wall Street. KPN stands out with a gain of almost 4 percent. Meanwhile, investors are paying attention to Trump's trade tariffs and the US labor market data. According to payroll processor ADP, only 54,000 private sector jobs were added in August, significantly fewer than expected, increasing the focus on Friday's o…
ADP says just 54,000 private jobs created in August. Businesses still hesitant to hire.
Privately run businesses created just 54,000 jobs in August, ADP said, extending a string of poor employment reports that have raised alarms about the labor market and are likely to spur the Federal Reserve to cut interest rates soon.
Coverage Details
Bias Distribution
- 59% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
