Job vacancies rose in July, dashing Fed hopes for cooling

By CHRISTOPHER RUGABER
AP Economics Writer

WASHINGTON (AP) — The number of open jobs in the United States rose in July after three months of declines, a sign that employers are still urgently seeking workers despite slowing economic growth and high inflation. The increase will be a disappointment for Federal Reserve officials, who are seeking to cool hiring by raising short-term interest rates to try to slow borrowing and spending, which tend to fuel inflation. There were 11.2 million open jobs available on the last day of July — nearly two jobs, on average, for every unemployed person — up from 11 million in June. June’s figure was also revised sharply higher.