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U.S. Job Openings Bounce Sharply in Sept but ISM Manufacturing PMI Falls to 50.2

Published 11/01/2022, 10:20 PM
© Reuters.

By Geoffrey Smith 

Investing.com -- The last batch of U.S. economic data before the Federal Reserve's latest policy meeting showed much of the economy still in surprisingly rude health, casting doubt over the ability of the central bank to moderate the pace of its monetary tightening. 

The Labor Department's monthly survey of Job Openings and Labor Turnover showed a sharp rebound in vacancies in September, after an August drop that many thought would herald a broader slowdown. Vacancies rose by nearly half a million to 10.717 million from an August figure that itself revised up to 10.280 million. 

At the same time, a closely-watched gauge of business activity also turned out a little stronger than expected. The Institute for Supply Management's manufacturing purchasing managers index fell to 50.2 from 50.9 - slightly higher than consensus forecasts for 50, the level that typically divides expansion from contraction. 

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