US job openings grew in December
New York (CNN) — The number of available jobs in the United States unexpectedly rose last month, according to Bureau of Labor Statistics data released Tuesday.
Posted — UpdatedThe US had an estimated 9.026 million job openings in December, according to seasonally adjusted data released as part of the BLS’ monthly Job Openings and Labor Turnover Survey (JOLTS) report. That total is higher than the upwardly revised 8.925 million available jobs estimated for November.
The Federal Reserve has been hoping to see more slack in the labor market to help in the central bank’s fight to bring down inflation. When there’s an imbalance in the supply and demand for workers, it could cause wages to rise and, in turn, prompt companies to raise prices.
In recent months, Fed Chair Jerome Powell has remarked that the labor market has remained strong but in better balance than it had during the throes of the pandemic recovery. At one point in early 2022, job openings soared north of 12 million.
Economists had expected December job openings to drop for a fourth consecutive month and land at 8.714 million.
This story is developing and will be updated.
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