U.S. job openings rose in July, while data for June was revised sharply higher and unemployment remains low, according to the Labor Department’s Job Openings and Labor Turnover Survey, or JOLTS report, on Aug. 30.
The extremely tight labor market conditions will probably give the Federal Reserve more leeway to continue increasing interest rates in its fight against high inflation.
The Fed is trying to cool demand for labor and the overall economy to bring inflation down to its 2 percent target.
The numbers show that there were two jobs for every unemployed person last month, as job openings increased by 199,000 to reach 11.239 million on the last day of July, which was about 1 million more than economists had expected….