TechFlow news, on January 7, according to Jinshi News, job openings in the United States rose to a six-month high in November, driven by strong growth in business services, while demand for workers across other industries was more mixed. The U.S. Bureau of Labor Statistics' Job Openings and Labor Turnover Survey (JOLTS) released Tuesday showed job openings increased from a revised 7.8 million in October to 8.1 million, surpassing all analysts' expectations.
The increase was almost entirely driven by professional and business services as well as financial activities and insurance. The latest job openings data suggest a pause in the downward trend that has persisted for nearly three years. The labor market now appears more resilient, and with inflation proving persistent in recent months, expectations for Federal Reserve rate cuts this year have diminished. Following the data release, traders no longer fully price in a Fed rate cut before July.
