US Job Market Stagnation Amid Economic Uncertainty

US job openings remained flat last month due to economic turmoil stemming from Trump's trade policies and a possible government shutdown. Despite low unemployment, jobseekers find it challenging to secure jobs. The job market's sluggishness is also linked to Federal Reserve's interest rate hikes.

US job openings remained largely unchanged last month, as economic uncertainty loomed over President Donald Trump's trade policies and the threat of a government shutdown. Data released by the Labor Department revealed a minimal increase from 7.21 million to 7.23 million openings, defying economists' expectations of a drop.

The Job Openings and Labour Turnover Survey (JOLTS) revealed an ongoing trend: layoffs decreased, but fewer workers voluntarily left their jobs, indicating a lack of confidence in finding new employment. Notably, the hiring rate was the lowest since June 2024, reflecting the market's current stagnation.

Despite stable levels, job openings have declined since peaking at 12.1 million in March 2022. The job market's slowdown this year is partly due to the Federal Reserve's 11 interest rate hikes and the uncertainties caused by trade wars. Experts like Carl Weinberg noted companies are retaining staff while facing full employment. The Labour Department is set to release more employment insights, pending a government budget decision.

(With inputs from agencies.)