Workers also grew more confident, with resignations posting their largest increase in 18 months
WASHINGTON – US job openings increased solidly in October while layoffs dropped by the most in 1-1/2 years, suggesting the labour market continued to slow in an orderly fashion.
Workers also grew more confident in the labour market, with resignations posting their largest increase in nearly 1-1/2 years. The state of the labour market could determine whether the Federal Reserve delivers a third consecutive interest rate cut this month amid lack of progress in lowering inflation back to the US central bank's 2% target.
But there were 26,000 fewer open positions in the federal government. The job openings rate increased to 4.6% from 4.4% in September. The US South accounted for most of the job openings after a sharp decline in September, which economists had attributed to the impact of Hurricane Helene. Hiring declined across all business sizes. It fell in all four regions, with the South recording a drop of 106,000, likely because of Helene and Hurricane Milton.
The central bank kicked off its policy easing cycle in September and has reduced its policy rate by 75 basis points to the 4.50%-4.75% range, having hiked it by 5.25 percentage points in 2022 and 2023.
پاکستان تازہ ترین خبریں, پاکستان عنوانات
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