The number of job vacancies in the US rose to the highest level in six months in November, driven by sharp growth in the commercial services sector

The Zhitong Finance App learned that in November, the number of job vacancies in the US rose to the highest level in six months, mainly driven by a surge in commercial service jobs, while demand for labor in other industries varied.

According to the Job Vacancies and Labor Mobility Survey (JOLTS) data released by the US Bureau of Labor Statistics on Tuesday, the number of job vacancies increased from 7.8 million revised upward in October to 8.1 million, exceeding Bloomberg's survey forecast for economists.

This growth was almost entirely driven by the professional and commercial services and financial and insurance industries. Meanwhile, job vacancies in the accommodation and food service sector and manufacturing industry have declined.

This increase in job vacancy data broke the downward trend of nearly three years. Previously, this trend raised concerns about the deterioration of the labor market and became the basis for the Federal Reserve to cut interest rates continuously. However, current data shows that the labor market is more stable, and inflation has remained stubborn in the past few months, which has lowered the market's expectations for further interest rate cuts by the Federal Reserve this year.

Federal Reserve Chairman Powell said at the December meeting that the labor market is cooling down “in a gradual and orderly manner,” and hinted that the Federal Reserve's focus has returned to inflation. The minutes of the meeting will be published this Wednesday, or provide further clues about policy trends.

The report comes ahead of Friday's employment data release. The market expects employer recruitment activity to slow down in December, but it is still at a healthy level, and the unemployment rate is likely to remain at 4.2%. These data will provide an important basis for the market to further evaluate the US labor market and economic trends.