Demand for workers and hiring rates remain strong despite high US inflation
In August, there was a decline in job openings, however, this has not negatively impacted the demand for workers. Data from the ADP National Employment report indicates that the hiring of new workers rose in the month of September based on an increase in private payrolls. Despite this new labor market information though, it is unclear whether these trends will continue as it appears job growth is slowing down overall. The prospective cooling of the job market and demand for labor is partially due to the interest rate increases enacted to combat inflation and narrow the trade deficit.
See "Demand for workers and hiring rates remain strong despite high US inflation", Lucia Mutikani, Reuters, October 5, 2022