""Companies are clearly hoarding workers with the economy still at full employment," Carl Weinberg, chief economist at High Frequency Economics, wrote in a commentary."
""It will take a bigger blow than what we have seen so far to convince companies that it is safe and prudent - and necessary - to lay off workers.""
Job openings rose slightly to 7.23 million in August from 7.21 million in July, versus economists' forecast of 7.1 million. Layoffs declined, but the number of people quitting also fell, signaling weaker confidence among workers. Hiring was the weakest since June 2024. Openings remain well below the March 2022 peak of 12.1 million and have trended downward. The job market has lost momentum amid 11 Federal Reserve interest-rate hikes and uncertainty from President Trump's trade policies. Unemployment held at 4.3 percent. Labor Department revisions showed 911,000 fewer jobs added in the year ending March, lowering the monthly average to under 71,000.
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