Growing inflationary pressures, consecutive interest rate hikes, and the prospect of an economic slowdown have kept the stock market under immense pressure. However, investors lauded the Labor Department’s Job Openings and Labor Turnover Survey (JOLTS), which revealed that vacancies fell 1.1 million to 10.1 million on the last working day of August.
Furthermore, according to ADP’s private employment report, the U.S. economy added 208,000 jobs in September, which was more than projected, continuing a trend of positive surprises in labor market data.
