US Job Market , Stayed Strong In September , Despite Fed's Rate Hikes.
In September, employers posted 9.6 million job openings, an indicator that America's job market remains strong.
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ABC reports that layoffs fell from 1.7 million in August to 1.5 million in September.
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At the same time, unemployment for the month had dropped to 3.8%, nearly a half-century low.
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Consumer prices remained 3.7% higher than the same time in 2022, but were down from a 9.1% peak reached in June of 2022.
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ABC reports that while job openings for September were down from a record 12 million reached in June, they remain high by historical standards.
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The strong performance of the job market comes despite the Federal Reserve's efforts to fight inflation, which aim to cool the job market.
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Since March of 2022, the Fed has increased its benchmark interest rate eleven times.
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ABC reports that the U.S. central bank is expected to announce another pause in rate hikes for its second straight meeting while it monitors the impact of previous increases.
ABC reports that the U.S. central bank is expected to announce another pause in rate hikes for its second straight meeting while it monitors the impact of previous increases.
The Fed is looking to accomplish a "soft landing," raising rates enough to reign in prices without triggering a recession.
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Analysts predict that U.S. employers added another 189,000 jobs in October, which will be revealed in the Labor Department's upcoming jobs report for the month.
Analysts predict that U.S. employers added another 189,000 jobs in October, which will be revealed in the Labor Department's upcoming jobs report for the month
