In the U.S, employers had 7.2 million job openings in July. Comparatively, that is down from the 7.4 million reported in June and also is the lowest since September of 2024. Rising interest rates and tariffs have seem to lessen the creation of jobs in the U.S. A report from the Job Openings and Labor Turnover Survey showed the hiring of jobs has been slow and difficult all summer; partially due to the fact of Trump's new interest rates, import and export prices, etc. Regardless of the job opening slowdown, most business in the U.S. did a great job of evading a mass firings.
What could come next is the FED is now trying find a way to boost the job market by taking interest rates in September and cutting them. Key interest rates from the FED have kept borrowing costs somewhat high on all sorts of loans which has cooled down the creation of jobs and the economy. I am interested to see where this goes in the coming weeks and maybe years, obvisouly I am hoping to leave college and have job opportunities readily available. It is not encouraging to hear that jobs may not be the easiest get in this country in the current moment. Is it an exaggeration? Maybe, but I am interested to see how this all pans out with job openings, the FED, and tariffs.
https://finance.yahoo.com/news/labor-market-lost-steam-tariffs-151626842.html
I did a very similar article about how the job openings have been the lowest since the pandemic. It'll be interesting to see if trump decides to change anything about his interest rates because of the negative affects it has been having. With the steps that the FED seem to be taking I hope this opens up the job market more than it is right now.
ReplyDeleteThat is very interesting and I agree that it would be nice to have job opportunities readily available after college. I've been reading articles talking about how jobs in like Washington State are not doing well because of the tariffs on Canada and there's been articles about the tariffs affecting other countries like Germany, so I am very interested in how this is going to pan out as well and if we will have more job opportunities open up in the future.
ReplyDeleteThe article that I read is very similar to this, as it looked at the drop in payroll for the nation over the past couple of months. The data is showing the job market weakening, and it appears that the Fed will almost be forced to cut rates in order to drive the market in the right direction. Even with the struggling job market, we are still seeing growth in the stock market, which is good.
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