"The Labor Department reported Tuesday that employers posted 7.67 million vacancies in October, close to September's 7.66 million. The Job Openings and Labor Turnover Survey (JOLTS), which was delayed by the extended government shutdown, also showed that the layoffs rose and number of people quitting their jobs - a sign of confidence in the labor market - fell in October."
"Inflation remains stuck above the Fed's 2% target, partly because importers have tried to pass along the cost of Trump's tariffs by raising prices. Normally, stubborn inflation would discourage Fed policymakers from cutting rates. But the job market has looked shaky in recent months, and the Fed is expected to reduce its benchmark rate for the third time this year, though some policymakers might dissent."
Employers posted 7.67 million job vacancies in October, nearly unchanged from September's 7.66 million. Layoffs increased while quits — a traditional sign of worker confidence — declined in October. Job openings have fallen from a 12.1 million peak in March 2022 as the labor market cooled under higher interest rates. Double-digit tariffs and cost pass-throughs by importers have kept inflation above the Fed's 2% target. Federal Reserve policymakers face contentious debate about cutting the benchmark rate; the Fed is expected to lower rates again despite inflation concerns and possible dissent. A 43-day federal shutdown delayed and consolidated JOLTS reporting, complicating interpretation of labor-market statistics.
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