Jobs
US Job Openings Post Surprise Increase, Keeping Pressure on Fed
- Vacancies climbed by 437,000 to 10.7 million in September
- Quits rate held at 2.7%, while number of hires eased
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US job openings unexpectedly rebounded in September amid low unemployment, likely fueling further wage gains and adding pressure on the Federal Reserve to extend its aggressive campaign to curb inflation.
The number of available positions increased to 10.7 million in September from a revised 10.3 million a month earlier, the Labor Department’s Job Openings and Labor Turnover Survey, or JOLTS, showed Tuesday. The median estimate in a Bloomberg survey of economists called for a drop to about 9.8 million.