August Job report and July Job Opening and Turnover Survey

August job growth fell slightly short of expectations, coming in at 315,000. After last month's job growth (revised down to 526,000) far exceeding expectations, this month's slower growth can be seen as a good sign for those watching the Fed's moves to stem inflation. While hiring might have slowed, job openings rose to 11.2 million in July. With unemployment rising to 6 million, there are still 1.86 jobs available for every person unemployed.

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