Job openings in the United States unexpectedly rose in December, showing demand for labour remains strong despite higher interest rates and mounting fears of a recession, which could keep the Federal Reserve on its policy tightening path.There were 1.9 job openings for every unemployed person in December, the Labor Department’s monthly Job Openings and Labor Turnover Survey, or JOLTS report, showed on Wednesday. Signs of persistent labour tightness were unlikely to change expectations that the US central bank would further slow the pace of its rate hikes when policymakers conclude a two-day meeting later on Wednesday.“This could well be the first recession in history without material job losses,” said Christopher Rupkey, chief economist at FWDBONDS in New York. “It’s a good thing for the Fed that inflation pressures are cooling because the labour market isn’t cooling at all.”
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