- Job listings finally fell drastically in August.
- The labor market still remains strong.
- There is concern for interest rate hikes and many are waiting to see what the Fed will do next.
The labor market has finally started to cool as predicted. With job listings dropping the market might finally stabilize, but Fed hikes are likely.
According to the U.S. Labor Department’s job report for August 2022, employers added 318,000 jobs and the unemployment rate stayed at 3.5%. The concern amongst economists is whether or not the Federal Reserve may increase interest rates once again to keep up with the market.
Stay tuned for more valuable data insights and predictions for Greenwich HR. Interested to know how your company can gain valuable key insights of the labor market? Learn more about our compensation and labor insights today and stay tuned for the August pre-job report.