US job openings plummeted in August by the highest amount since early in the pandemic — probably a welcome sign for Federal Reserve officials as they seek to cool demand for workers without triggering a spike in unemployment.
The number of available positions decreased to about 10.1 million in the month from 11.2 million in July, the Labour Department’s Job Openings and Labour Turnover Survey, or Jolts, showed on Tuesday. The August level was lower than all estimates in a Bloomberg survey of economists.
The 1.1 million decline in vacancies was the biggest since April 2020 and is consistent with moderating labour demand, reflective of shifting consumption patterns, rapidly rising interest rates and a darkening economic outlook.
Stocks jumped while Treasuries advanced after the report, as traders grew optimistic the Fed may not have to be as aggressive with its interest-rate rises, given some signs that demand for workers is cooling.
While the number of vacancies remains extremely high, the ratio of openings for unemployed people retreated in August. There are about 1.7 jobs for every unemployed person, down from about two in July and the smallest ratio since November of last year.
Fed policymakers have pointed to the elevated number of job openings as a way to cool the labour market without an ensuing jump in unemployment. The decline in vacancies may help temper wage pressures that central bankers are trying to tame in an effort to extinguish rapid inflation.
Hires that were little changed during the month suggest some of the decline in vacancies reflected employers withdrawing job postings rather than filling them. The largest decreases in job openings were in health care and social assistance, other services and retail trade.
About 4.2 million Americans quit their jobs in August, a slight increase from a month earlier. The quits rate, a measure of voluntary job leavers as a share of total employment, held at 2.7 per cent.
Layoffs increased to the highest level since March 2021, though they remain historically low.
The Jolts data precede Friday’s monthly jobs report, which is currently forecast to show US employers added 265,000 to payrolls in September.
Economists are expecting the unemployment rate to hold at 3.7 per cent, right above a five-decade low, and for average hourly earnings to post another firm advance.
Killing of Qassem Suleimani
Mohammed bin Zayed Majlis
KILLING OF QASSEM SULEIMANI
Killing of Qassem Suleimani
Scores
Bournemouth 0-4 Liverpool
Arsenal 1-0 Huddersfield Town
Burnley 1-0 Brighton
Manchester United 4-1 Fulham
West Ham 3-2 Crystal Palace
Saturday fixtures:
Chelsea v Manchester City, 9.30pm (UAE)
Leicester City v Tottenham Hotspur, 11.45pm (UAE)
Tell-tale signs of burnout
- loss of confidence and appetite
- irritability and emotional outbursts
- sadness
- persistent physical ailments such as headaches, frequent infections and fatigue
- substance abuse, such as smoking or drinking more
- impaired judgement
- excessive and continuous worrying
- irregular sleep patterns
Tips to help overcome burnout
Acknowledge how you are feeling by listening to your warning signs. Set boundaries and learn to say ‘no’
Do activities that you want to do as well as things you have to do
Undertake at least 30 minutes of exercise per day. It releases an abundance of feel-good hormones
Find your form of relaxation and make time for it each day e.g. soothing music, reading or mindful meditation
Sleep and wake at the same time every day, even if your sleep pattern was disrupted. Without enough sleep condition such as stress, anxiety and depression can thrive.
The Freedom Artist
By Ben Okri (Head of Zeus)
The White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
More on Quran memorisation:
Match info
Liverpool 3
Hoedt (10' og), Matip (21'), Salah (45 3')
Southampton 0
Company profile
Company name: Nestrom
Started: 2017
Co-founders: Yousef Wadi, Kanaan Manasrah and Shadi Shalabi
Based: Jordan
Sector: Technology
Initial investment: Close to $100,000
Investors: Propeller, 500 Startups, Wamda Capital, Agrimatico, Techstars and some angel investors
Six tips to secure your smart home
Most smart home devices are controlled via the owner's smartphone. Therefore, if you are using public wi-fi on your phone, always use a VPN (virtual private network) that offers strong security features and anonymises your internet connection.
Keep your smart home devices’ software up-to-date. Device makers often send regular updates - follow them without fail as they could provide protection from a new security risk.
Use two-factor authentication so that in addition to a password, your identity is authenticated by a second sign-in step like a code sent to your mobile number.
Set up a separate guest network for acquaintances and visitors to ensure the privacy of your IoT devices’ network.
Change the default privacy and security settings of your IoT devices to take extra steps to secure yourself and your home.
Always give your router a unique name, replacing the one generated by the manufacturer, to ensure a hacker cannot ascertain its make or model number.
UAE currency: the story behind the money in your pockets
The five pillars of Islam
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The years Ramadan fell in May
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