US job openings edge up to 7.27 million as hiring cools

The U.S. economy added 162,000 jobs in August, nearly triple forecasts, while the unemployment rate held at 4.1% and prior payroll figures were revised upward. Hiring gains were led by food services and drinking places, hospitality, and local-government education, while average hourly earnings rose 3.1% from a year earlier. Household data showed a 735,000 increase in full-time employment and a 414,000 decline in involuntary part-time work, although the labor market was tightening without clear signs of overheating. Separate July data showed job openings edging up to about 7.3 million from 7.182 million in June, with a 3.2% hiring rate, about 5.1 million hires, 1.7 million layoffs and discharges, and 3.1 million quits; vacancies remained below the 12.3 million post-pandemic peak, indicating gradual normalization. The figures will inform Federal Reserve policy ahead of its September 15–16 meeting, with markets divided over whether rates will remain unchanged or be raised if inflation, still above the Fed’s 2% target, does not moderate convincingly.