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US Job Openings Top All Forecasts as White-Collar Positions Jump
US job openings unexpectedly increased in August, fueled by a surge in white-collar postings, highlighting the durability of labor demand. The number of available positions increased to 9.61 million from a revised 8.92 million in July, the Bureau of Labor Statistics’ Job Openings and Labor Turnover Survey, or JOLTS, showed Tuesday. Hiring edged up, while layoffs remained low. The level of openings topped all estimates in a Bloomberg survey of economists. Treasury yields rose and the S&P 500 declined after the report. The so-called quits rate, which measures voluntary job leavers as a share of total employment, held ... (full story)