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February 28, 2024
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Business

U.S. labor market stays tight as workers remain scarce; manufacturing regains speed

Published by
Reuters

By Lucia Mutikani WASHINGTON (Reuters) – U.S. job openings fell in April, but remained at significantly high levels, suggesting that wages would continue to rise as companies scramble for workers, and contribute to inflation staying uncomfortably high for a while. The Job Openings and Labor Turnover Survey, or JOLTS report, from the Labor Department on Wednesday also showed layoffs at a record low, underscoring the jobs market tightness. The Federal Reserve, fighting to push inflation down to its 2% target, is trying to bring demand and supply of labor back into alignment without driving the u…

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