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Monday, Dec. 11
The Indiana Daily Student

business & economy

National decrease in job openings may slow inflation


Job openings in the U.S. decreased 0.9% between March 2022 and the end of November 2022, according to the US Bureau of Labor Statistics.  

According to the US Bureau of Labor Statistics, professional and business services job openings have increased by 212,000. Nondurable goods manufacturing job openings have increased by 39,000. Job openings in finance and insurance decreased by 75,000 and federal government job openings decreased by 44,000. 

Indiana’s unemployment rate is unchanged while manufacturing jobs and the labor force participation rate have decreased.  

[Related: Indiana Gov. Eric Holcomb delivers annual State of the State address Tuesday]

Voluntary quits have increased while layoffs have decreased, according to a Reuters article.  

According to Reuters, Since U.S. job openings have decreased, the Federal Reserve may boost interest rates in order to slow inflation The U.S. is experiencing the fastest interest-rate increasing cycle since the 1980s. Their goal is to decrease labor demand and inflation.  

There was a national increase of 125,000 people who quit their jobs in November. The quitting rate was lifted from 2.6% to 2.7%, according to the same article. Nationwide hiring decreased in October — it went from 6.111 million to 6.055 million — but increased by 74,000 in healthcare and social assistance jobs. 

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