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.
UAE currency: the story behind the money in your pockets
A little about CVRL
Founded in 1985 by Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, the Central Veterinary Research Laboratory (CVRL) is a government diagnostic centre that provides testing and research facilities to the UAE and neighbouring countries.
One of its main goals is to provide permanent treatment solutions for veterinary related diseases.
The taxidermy centre was established 12 years ago and is headed by Dr Ulrich Wernery.
if you go
The flights Fly Dubai, Air Arabia, Emirates, Etihad, and Royal Jordanian all offer direct, three-and-a-half-hour flights from the UAE to the Jordanian capital Amman. Alternatively, from June Fly Dubai will offer a new direct service from Dubai to Aqaba in the south of the country. See the airlines’ respective sites for varying prices or search on reliable price-comparison site Skyscanner.
The trip
Jamie Lafferty was a guest of the Jordan Tourist Board. For more information on adventure tourism in Jordan see Visit Jordan. A number of new and established tour companies offer the chance to go caving, rock-climbing, canyoning, and mountaineering in Jordan. Prices vary depending on how many activities you want to do and how many days you plan to stay in the country. Among the leaders are Terhaal, who offer a two-day canyoning trip from Dh845 per person. If you really want to push your limits, contact the Stronger Team. For a more trek-focused trip, KE Adventure offers an eight-day trip from Dh5,300 per person.
Groom and Two Brides
Director: Elie Semaan
Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla
Rating: 3/5
Russia's Muslim Heartlands
Dominic Rubin, Oxford
Super 30
Produced: Sajid Nadiadwala and Phantom Productions
Directed: Vikas Bahl
Cast: Hrithik Roshan, Pankaj Tripathi, Aditya Srivastav, Mrinal Thakur
Rating: 3.5 /5
Terror attacks in Paris, November 13, 2015
- At 9.16pm, three suicide attackers killed one person outside the Atade de France during a foootball match between France and Germany
- At 9.25pm, three attackers opened fire on restaurants and cafes over 20 minutes, killing 39 people
- Shortly after 9.40pm, three other attackers launched a three-hour raid on the Bataclan, in which 1,500 people had gathered to watch a rock concert. In total, 90 people were killed
- Salah Abdeslam, the only survivor of the terrorists, did not directly participate in the attacks, thought to be due to a technical glitch in his suicide vest
- He fled to Belgium and was involved in attacks on Brussels in March 2016. He is serving a life sentence in France
