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US new job openings at record high; Fed may hike rates next month

Wage gains have remained sluggish even as the unemployment rate has tumbled to a 16-year low of 4.3%

Reuters  |  Washington 

US job openings surged to a record high in April and employers appeared to have trouble finding suitable workers, pointing to a tightening labour market that could encourage the Federal Reserve to raise interest rates next month. The labour Department's monthly Job Openings and labour Turnover Survey, or JOLTS, published on Tuesday also suggests that a recent moderation in job growth could be the result of a skills mismatch rather than easing demand for labour. "These data underscore the difficulty in hiring new workers, which we think is increasingly likely to be a ...

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First Published: Wed, December 06 2017. 23:04 IST