U.S. job openings declined in August, according to new Labor Department data, while layoffs remained low.
The number of available positions fell by 256,000 to 7.079 million at the end of August.
Hiring remains relatively stable
Hiring increased by 46,000 to 5.192 million.
The number of layoffs and discharges declined by 61,000 to 1.641 million.
The figures indicate that employers are not rapidly cutting jobs, but they are also showing caution about expanding hiring.
Why the Federal Reserve is watching
Employment data is one of several factors influencing Federal Reserve policy.
The central bank is also focused heavily on inflation, particularly as energy prices remain elevated.
The latest labor figures arrive ahead of the September employment report, which will provide another major indicator of the health of the U.S. economy.
Leave a Reply