What we’re covering here

  • The Federal Reserve concludes its two-day monetary policy meeting Wednesday, with an announcement on rates due at 2 pm ET.
  • The central bank is expected to pause its rate-hiking campaign for the second time in a row as the economy continues to absorb the effects of higher borrowing costs.
  • Fed Chair Jerome Powell is set to hold a press conference at 2:30 pm ET to discuss the central bank’s decision and outlook for the economy.
  • US stocks opened slightly higher to start the month and ahead of what is considered a “placeholder” Fed meeting, with the majority of investors anticipating the central bank will announce a pause.

US job openings grow again in September

The number of job openings in the US climbed again in September, rising to the highest in four months, according to data released Wednesday by the Bureau of Labor Statistics.

There were an estimated 9.553 million available jobs in September, according to the BLS’ latest monthly Job Openings and Labor Turnover Survey (JOLTS) report.

It’s the second month in a row that the number of job openings increased. The September total is up from August’s downwardly revised estimate of 9.497 million openings.

Some of the biggest monthly increases in postings were in the arts, entertainment and recreation industry as well as real estate.

September’s job openings surpassed economists’ estimates for postings to tick down to 9.25 million, according to Refinitiv estimates.

Job openings remained on the high side in September during a month that also had shockingly strong employment gains of 336,000 jobs.

Other key measurements of labor turnover tracked in the JOLTS report exemplified the pure resilience of the nation’s jobs market.

The number of new hires ticked higher, to 5.871 million from 5.85 million; layoffs tumbled to 1.517 million from 1.682 million; and quits inched lower to 3.661 million from 3.663 million.

The number of layoffs is at its lowest level of the year.

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