Aug
30
Job Openings Continue to Drop
August 30, 2023 | | 1 Comment
This article talks about why the number of job openings continued its downward trend in July. The decrease from 9.2 million openings in June to 8.8 openings in July means workers have fewer opportunities to find jobs. Many experts are saying this can be attributed to the increased interest rates as of late, which are sitting at around 5.5 percent.
The fed has increased the interest rates in hopes of combatting inflation, and it has actually worked. Many people are upset over the interest rates but in reality the increases are necessary for the economy.
Something that I found interesting in this article was that the U.S labor market has actually defied some expert’s expectations. Many thought the labor market would struggle when the Fed decided to increase interest rates, but surprisingly it has remained strong. Inflation has leveled off some and the labor market hasn’t taken a large hit, which is something that doesn’t usually happen.
In my opinion this article does a great job of explaining a fairly complex situation in simple terms that the reader can understand. The audience here is the an average New York Times reader, and I believe the goal of the article was to give a brief overview of how the job market relates to the Fed and interest rates.
Link to Article- https://www.nytimes.com/2023/08/29/business/economy/job-openings-layoffs-jolts.html
Comments
1 Comment so far
You can the About Me that is below this post, Charlie, though it will eventually get pushed down as you do more articles. Your About Me is a page that won’t be affected.
Good news comment. The NYT is a national newspaper, so yes, New Yorkers will appreciate the jobs news, but so will many others. If you have a Wall Street Journal subscription, you might compare how they report economic stories.