New data from the U.S. Labor Department shows that job openings increased modestly in August, slightly surpassing economists’ expectations. The report could provide one of the last snapshots of the American labor market ahead of a potential U.S. government shutdown this week.
The number of available positions, a measure of worker demand, rose to 7.227 million in August, up from 7.208 million in July and above forecasts of 7.190 million. Meanwhile, hiring, layoffs, quits, and discharges remained largely unchanged, suggesting that fewer workers are actively seeking new positions.
The data comes amid ongoing uncertainty in Washington, where Republicans and Democrats are deadlocked over a short-term funding bill. Analysts have noted that a government closure could delay the release of the critical nonfarm payrolls report on Friday, as well as other key economic indicators, including consumer price growth and retail sales.
“Every week of a shutdown is estimated to reduce GDP growth by roughly 0.1 percentage points,” researchers at Barclays noted, adding that most of these losses are typically recovered once government operations resume.
Recent employment data has been closely watched by investors, particularly as signs of a slowing labor market influenced the Federal Reserve’s decision earlier this month to cut interest rates for the first time since December.
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