"At 0.99 openings per unemployed person, compared to the 1.05 rate in June, it's the first time job seekers have outnumbered openings since April 2021, when the rate was 0.96. The bureau's jobs report, released Friday, showed that 22,000 jobs opened up in August, short of the expected 75,000. The unemployment rate slightly increased to 4.3%."
""The dynamic has shifted towards employers when it comes to hiring as employers have slowed their hiring rate significantly, but employers are reluctant to reduce headcount as they recall the challenges of hiring a few years ago," Daraius Irani, the vice president of business and public engagement at Towson University, said in the WalletHub report."
The Bureau of Labor Statistics reported 0.99 job openings per unemployed person, marking the first time since April 2021 that job seekers outnumber job openings. The BLS jobs report recorded 22,000 jobs added in August, below expectations of 75,000, and the unemployment rate edged up to 4.3%. WalletHub found a 3.5% week-over-week increase in unemployment claims between August 18 and August 25 and compared claims to a year earlier while calculating claims per 100,000 in the labor force. Connecticut and Tennessee showed the fastest-growing unemployment-claim rates. Employers have slowed hiring but remain reluctant to cut headcount.
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