Zachary Halaschak is an economics reporter at the Washington Examiner. Before moving to Washington, he worked in Alaska, covering politics, government, and crime for the Ketchikan Daily News. While there, Zach won the Alaska Press Club’s second-place award for best reporting on crime or courts for his coverage of a local surgeon’s alleged murder.
The number of job openings in the United States were little changed at 9.55 million in September, notching a very slight increase from the month before.
The very subtle uptick signals that the Federal Reserve’s barrage of interest rate hikes is still not quite causing the country’s robust labor market to falter the way many expected. The high number of job openings could give the Fed — which is meeting this week — a little more leeway to keep rates higher for longer.
The JOLTs report coincides with the Fed’s closely watched meeting. Fed Chairman Jerome Powell and top officials are huddling in Washington, D.C. to decide what to do with interest rates. Given lower inflation and strong recent economic growth, most economists expect the Fed to hold rates steady this week.
While the barrage of rate hikes, which began in earnest in March 2022, have not yet dealt serious damage to the labor market, they have caused pain for consumers.
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