WASHINGTON — U.S. task openings dropped in October however stayed high, a indication that companies endedupbeing somewhat less clingy for employees as the Federal Reserve ramps up interest rates in an effort to cool the economy.
Employers published 10.3 million task jobs in October, down from 10.7 million in September, the Labor Department stated Wednesday. Even with the drop, openings were alittle lower in August, when they dipped listedbelow 10.3 million priorto rebounding the following month.
The number of individuals givingup their tasks likewise slipped in October, to 4 million from 4.1 million.
The Federal Reserve is carefully tracking the figures on task openings and givesup for signals about the strength of the task market. The Fed is lookingfor to pull off a fragile job by slowing workingwith and the wider economy to cool inflation, however not so much as to cause a economicdownturn.
While more task openings are a advantage for those lookingfor work, Fed authorities would like to see the number of openings fall. That’s duetothefactthat less openings would show less competitors inbetween organizations to discover and keep employees, decreasing pressure on them to raise salaries.
The number of open tasks dropped last month in buildingandconstruction, production, specialist services such as architecture and engineering, and health care. They increased in monetary services and