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Like the tortoise in the classic fable The Tortoise and the Hare, the labor market remains slow and steady.
The Bureau of Labor Statistics released its September Job Openings and Labor Turnover Survey (JOLTS) today. While hires and separations were little changed from the previous month, the total number of job openings fell to 7.4 million from 8 million in August, the lowest level since September 2021.
“You’ll have to take the September numbers with a grain of salt…because you’ve got some hurricane impact, and there’s some strike impacting data in there, so that’s going to throw off the numbers,” said Rajesh