U.S. job openings posted a surprise increase in November despite an aggressive campaign by the Federal Reserve to raise interest rates and cool the labor market.
The Labor Department said Wednesday that there were 10.5 million job openings in November.
The number of available jobs has topped 10 million for 13 consecutive months; before the pandemic began in February 2020, the highest on record was 7.7 million.
The Federal Reserve closely watches these figures as it tries to gauge labor market tightness; the increase in openings could be reason for concern among policymakers as they try to slow the economy and cool painfully high inflation.
This is a developing story. Please check back for updates.
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