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Job Openings Increase to 9.6M in August

A busy week of jobs data with more out today. What did you learn, Hannah? You're exactly right. So the number of job openings rose in August putting pressure on borrowing costs to remain high while job openings rose to 9.6 million in August. According to the latest job opening and labor turnover survey or the jolts report for short, it was a gain from the 8.9 million job openings in July and the rate of people quitting, their job was unchanged at 2.3%. While labor demand outstripping supply, it poses a challenge for the Federal Reserve which is trying to cool the economy via high interest rates. Still, some economists point to headwinds ahead that could keep things in check and that includes rising oil prices. The government shut down the auto workers strike and the resumption of student loan repayments.