U.S. job openings unexpectedly rose in December to the highest level in three months, underscoring the resilience of the labor market even in the face of higher interest rates.
The Labor Department said Tuesday there were 9 million job openings in December, an increase from the upward revised 8.9 million openings reported the previous month. Economists surveyed by Refinitiv expected a reading of 8.7 million.
“The report boils down to no news is good news,” said Robert Frick, corporate economist with Navy Federal Credit Union. “Job openings are still a healthy level above those seeking work, and the other numbers remain where a healthy labor market should find them. While openings did tick up, the increase is well within the margin of error.”
This is a developing story. Please check back for updates.
Read the full article here
