US job openings unexpectedly rebounded in August as the labor market remains surprisingly resilient in the face of the Federal Reserve’s aggressive interest-rate hike campaign.
The Labor Department said Tuesday there were 9.6 million job openings in August, a marked increase from the revised 8.92 million openings reported the previous month.
Economists surveyed by Refinitiv expected a reading of 8.8 million. It marked the first time in three months that job listings trended higher.
The Federal Reserve closely watches these figures as it tries to gauge labor market tightness and wrestle inflation under control.
The higher-than-expected figure indicates that demand for employees still outpaces the supply of available workers.
The central bank has responded to the inflation crisis and the extremely tight labor market by raising interest rates at the fastest pace in decades.
Officials have so far approved 11 rate hikes, lifting the federal benchmark funds rate to the highest level since 2001. Policymakers have signaled that an additional rate hike is on the table this year if economic data points to a resurgence in price pressures.
The latest jobs data could give policymakers more space to hike rates higher and hold them at elevated levels for longer.
“Any wonder why the Fed expects to raise interest rates again?” said Greg McBride, chief financial analyst at Bankrate. “With 1.5 job openings for every unemployed worker, there is little evidence of substantial easing in labor market demand, a risk to getting inflation lower.”
The uptick in vacancies last month largely stemmed from professional and business services, finance and other services and nondurable goods manufacturing, according to the report.
Job openings remain historically high. Before the COVID-19 pandemic began in early 2020, the highest on record was 7.6 million.
There are roughly 1.5 jobs per unemployed American.
“One of the top items the Fed wants to see is labor supply match labor demand, and the economy is not quite there yet,” said Jeffrey Roach, chief economist at LPL Financial.
The number of Americans quitting their jobs, meanwhile, ticked higher to 3.6 million, or roughly 2.3% of the workforce, indicating that workers remain confident they can leave their jobs and find employment elsewhere.
Switching jobs has been a windfall for many workers over the past year: Job-switchers saw their real hourly wage increase 6.4% in July, compared with a 5.4% pay increase for workers who stayed in the same job, according to recent Atlanta Fed data.
The College Football Playoff selection committee will reveal its first ranking at 8 p.m. ET on Tuesday on ESPN, giving us our first look at what the 12-member group thinks about the playoff pecking order after 10 weeks.
It’s far from over, as teams still have ample opportunities to build — or bust — their résumés.
Separation, though, is starting to occur, and the Bubble Watch is tracking it for you. Teams with Would be in status below are featured in this week’s top 12 projection, a snapshot of what the selection committee’s ranking will look like when it’s released later Tuesday. For each Power 4 conference, we’ve listed teams as Last team in and First team out. These are the true bubble teams hovering around inclusion. Teams labeled Still in the mix haven’t been eliminated, but have work to do. A team that is Out will have to wait until next year.
The 12-member selection committee doesn’t always agree with the Allstate Playoff Predictor, so the following categories are based on historical knowledge of the group’s tendencies, plus what each team has done to date.
The conferences below are listed in order of the number of bids they’re expected to receive, ranked from the most to least. Check back Tuesday night after the rankings reveal show for an updated bubble watch that will reflect the selection committee’s latest ranking.
Would be in: Alabama, Georgia, Ole Miss, Texas A&M
Last team in: Ole Miss. The Rebels are in a safe spot, but they’re not a lock if they don’t run the table. With remaining games against The Citadel, Florida and at rival Mississippi State, there’s no possibility of a “good loss” remaining, and historically, losing in November has been far more damaging to playoff hopes than losing earlier in the season. Ole Miss shouldn’t lose; it has at least a 72% chance of winning each of its remaining games and has the seventh-best chance in the country (43%) to win out. If an upset occurred, though, the Rebels would join the two-loss club and might not win a debate with other two-loss teams that had more statement wins — and didn’t lose to an unranked opponent. The Rebels’ remaining schedule strength is No. 56 in the country. With a second loss, Ole Miss would be banking on wins against Oklahoma, Tulane and LSU to impress the committee enough for an at-large bid.
First team out: Texas. The Longhorns got a significant boost this week in part because three teams above them fell out — Vanderbilt, Georgia Tech and Miami — but also because they earned another CFP top 25 win against the Commodores. The head-to-head win against Oklahoma also could help them with the committee. If Texas is ranked No. 11 or No. 12 by the committee, though — and the ACC and Group of 5 champions are outside of the committee’s top 12 — the Longhorns would be elbowed out during the seeding process to make room for the fourth- and fifth-highest ranked conference champions, which are guaranteed spots in the playoff.
Still in the mix: Missouri, Oklahoma, Vanderbilt. The Sooners earned a huge résumé boost with their win at Tennessee and have what should be a CFP top 25 win against Michigan. For two-loss Vandy, a close road loss to Texas isn’t an eliminator. Where the committee ranks Tennessee after its third loss will impact both of their résumés as a common opponent. Missouri’s lone losses were to Alabama and Vanderbilt, but the Tigers don’t have anything yet to compensate for those. That could change Saturday with a win against Texas A&M.
Last team in: Oregon. The one-loss Ducks have a more challenging second half of the season, and the committee is about to learn how good this team truly is. So far, Oregon’s best win was Sept. 13 at Northwestern. The Ducks have been passing the eye test, but their opponents have a winning percentage of 47.2% — ranked No. 116 in the country. The committee will still respect the double-overtime win at Penn State, but also recognize that the Nittany Lions weren’t playing at an elite level even with James Franklin on the sideline. With road trips to Iowa and Washington — both respectable two-loss teams — and a Nov. 22 home game against USC, Oregon has a chance to further entrench itself in the top 12 or tumble out.
First team out: USC. The Trojans’ two losses were on the road to respectable teams (Illinois and Notre Dame) by a combined 12 points. Their best win was Oct. 11 against Michigan, but the Trojans could really boost their résumé this month and completely flip the script with Oregon if they can win in Eugene on Nov. 22. According to ESPN Analytics, USC has the fourth-best chance in the Big Ten to reach the playoff (17.3%), just ahead of Michigan. The only game they’re not favored to win is Nov. 22 at Oregon. If they can pull off that upset for a 10-2 finish, the committee would definitely consider the Trojans for an at-large spot.
Still in the mix: Iowa, Michigan, Washington. These teams could be ranked by the committee Tuesday night, but Michigan will probably have the shortest climb into the conversation. The head-to-head loss to USC will be a problem in both the Big Ten standings and the CFP ranking, but if USC loses again and their records are no longer comparable, it can be overcome. Then, there’s a head-to-head loss to Oklahoma. Still, Michigan has a 13.2% chance to reach the playoff, according to the Allstate Playoff Predictor. The Wolverines still have a chance to beat Ohio State and earn one of the best wins in the country en route to a 10-2 finish.
Last team in: Texas Tech. If Texas Tech loses to BYU on Saturday but still wins the Big 12, it’s a CFP lock. The problem is that if the Red Raiders lose a second conference game, they will need some help to reach the Big 12 championship. So, a loss to BYU could be devastating to their conference and CFP hopes. If the Red Raiders beat BYU on Saturday, but lose to the Cougars in the Big 12 championship game, Texas Tech would still have a chance at an at-large bid as the Big 12 runner-up. The Red Raiders would be able to claim a win over the eventual Big 12 champs, which would be a much-needed boost to their résumé. It would depend in part on how the game unfolded. The Cougars are the Red Raiders’ only remaining opponent with a winning record, as Texas Tech ends the season against UCF (4-4) and at West Virginia (3-6).
First team out: Utah. The Utes are in a tricky spot because their two losses are to the Big 12’s best teams — BYU and Texas Tech. Utah still has the third-best chance to reach the Big 12 title game (22.8%), but will need some help to get there. Utah’s best wins are against Arizona State and Cincinnati, but the Utes have a hard time earning an at-large bid without beating at least one of the best teams in their league.
Still in the mix: Cincinnati. The Bearcats are included here because they still have an 18% chance to reach the Big 12 title game, according to ESPN Analytics. They have only one league loss, which gives them some slim hope. Their other loss was in the season opener to Nebraska.
Out: Arizona, Arizona State, Baylor, Colorado, Houston, Iowa State, Kansas, Kansas State, Oklahoma State, TCU, UCF, West Virginia
Last team in: Virginia. Like Georgia Tech, Virginia also has a road loss to NC State as its lone blemish, but it was an early four-point loss, while the Yellow Jackets lost to the Wolfpack by double digits. Virginia also has a head-to-head win against Louisville. That’s the Hoos’ best win of the season, and likely their only one against a CFP top 25 opponent. That’s why it’s unlikely Virginia is ranked in the top 12 in the initial CFP top 25. Virginia would still be in, though, if it wins the ACC even if it’s ranked outside the committee’s top 12 — just like three-loss Clemson was last year.
First team out: Louisville. The Cardinals lost at home in overtime to Virginia on Oct. 4, but earned a statement win Oct. 17 at Miami. Louisville will probably have only one win this season against a CFP top 25 team, which will make earning an at-large bid difficult. Louisville’s best shot would be to run the table, have teams above the Cardinals lose, and win the ACC. Louisville has a 10.6% chance of winning the ACC, fourth best behind Georgia Tech, Miami and Virginia.
Still in the mix: Georgia Tech, Miami. The odds of earning an at-large bid dropped significantly, but any team that has a chance to win its league will have a chance to lock up a playoff spot, and they’re both in contention to play for the ACC title. Georgia Tech has the best chance to reach the ACC championship game (72.3%), followed by Virginia (51.1%) and Miami (28.5%), according to ESPN Analytics. Georgia Tech still has the highest chance to win out (40.5%) and win the league (41.2%).
Out: Boston College, Cal, Clemson, Duke, Florida State, North Carolina, NC State, Pitt, SMU, Stanford, Syracuse, Virginia Tech, Wake Forest
Independent
Would be in:Notre Dame. The playoff stars aligned for Notre Dame in Week 10, when Vanderbilt, Georgia Tech and Miami all lost, opening the door for the 6-2 Irish to move back into the top 10 after beating Boston College. The question is whether the selection committee will honor Miami’s season-opening 27-24 win against Notre Dame because they have the same record. It’s one of several tiebreakers, but not weighted, and if the committee deems the Irish the better team and not comparable now, Notre Dame can be ranked higher. Notre Dame has the best chance of any team in the country to run the table (68.3%), but the Nov. 15 trip to Pitt will be difficult. The Panthers, winners of five straight, are playing well and have a bye week to prepare for the Irish. The Irish’s playoff position will remain tenuous until the clock runs out at Stanford and they’re 10-2.
Group of 5
Would be in: Memphis. As the projected winner of the American this week, Memphis would earn a playoff spot as the committee’s fifth-highest-ranked conference champion. The Tigers’ Oct. 25 win against South Florida was critical in the league race, but the loss to 3-5 UAB is an ink stain on their résumé that can be overcome with a conference title. Memphis has at least a 57% chance to win each of its remaining games, according to ESPN Analytics.
Still in the mix: South Florida, North Texas, James Madison, San Diego State. The committee would consider South Florida’s head-to-head wins against Boise State and North Texas.
To understand why Rachel Reeves stood up at 8am in Downing Street in an unprecedented news conference to foreshadow the budget, you need to understand the depth of the problems facing the chancellor.
In 22 days, she must perform the biggest U-turn it is possible for a chancellor to make.
She must hike taxes to the tune of tens of billions of pounds, having promised in the election manifesto that this would not be necessary, and reiterated this promise under a year ago after an initial £40bn of rises.
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2:40
Has the public heard the warning?
Not many inhabitants of Number 11 would stay in post if they had to make such a pivot.
But Sir Keir Starmer cannot lose her and know for sure that he also stays in place.
So Ms Reeves is battling for her credibility – and ultimately the survival of this government. The stakes are high.
So back to this morning. Ever since the summer, those in Westminster have known tax rises are on the way in the autumn budget. A Treasury source told me that pitch-rolling for the budget began in July – yet their issue is that to date, almost no-one had noticed.
The subject of the budget was an omerta as recently as the Labour conference a month ago – it simply wasn’t on the agenda in Liverpool.
Image: Chancellor Rachel Reeves delivered a highly unusual pre-budget speech in Downing Street. Pic: PA
The first public acknowledgement that she was looking at taxes was in an interview with me on Sky News three weeks ago. She has intermittently revisited the subject subsequently, but quite bluntly, the public haven’t yet noticed.
As recently as last week, people in the Treasury were acknowledging to me that the public are as yet unprepared for the tax shock expected on the scale on 26 November.
So this morning’s event was designed to be shock and awe – an 8am news conference is designed to jolt Westminster and the viewing public to attention, because inside the Treasury they are “desperate” – their words – to get the public watching.
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2:13
Rigby: Reeves speech ‘unprecedented’
The format allows her to look in control, like a stateswoman in Downing Street making arguments on her terms, even though these are arguments she has been forced into.
So the job of this morning was to educate the public that tax rises are coming, but also put them on notice that this could involve a breach of manifesto promises by raising one of income tax, national insurance, corporation tax or VAT – and then to try and lay the blame anywhere but at the feet of this government.
She also wants to give some hope – by giving a sense of what priorities she would protect.
So what to make of the arguments she made?
‘The impact of Tory austerity, their botched Brexit deal and the pandemic on Britain’s productivity is worse than feared’
Is it really all the Tories fault?
Ms Reeves made an argument today about how lower growth is responsible for Britain’s economic ills, and listed causes with a long tale going back many years for it. This is true, but isn’t strictly the reason for her problems at this budget.
On 26 November, she must fill a £20bn-£30bn “black hole” – that’s the extent to which she is in on course to breach her own self-imposed borrowing limits, known as fiscal rules.
Many of the components of the black hole cannot be put at the door of the Tories. Here’s why:
She must find £10bn to account for policy decisions the government has been pushed into – a failure to push through welfare reform, a U-turn on winter fuel payments, a likely rollover of fuel duty.
She is likely to have to find a further £5bn for decisions she is likely to take – scrapping of the two-child benefit cap, help for energy bills and an emergency injection for redundancy bills and strike coverage costs.
So £15bn of the black hole cannot be blamed on the Tories.
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1:48
Badenoch says Reeves is ‘just making excuses’
A further £2bn-£4bn for additional debt interest costs is a consequence of the higher borrowing just since the March spring statement – again not the Tories’ fault – and also wants £10bn to give herself a bigger buffer to exit the doom loop.
Ms Reeves has greater scope to argue that the productivity review has longer-term causes, but this is likely to be offset by better wage news, and there is an argument that Labour could have foreseen the productivity downgrade before the election because the Office for Budget Responsibility figures were out of line with other forecasters.
So this is a tricky case to sustain, even though the government has no choice but to make it.
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1:48
Sam Coates and Anne McElvoy discuss the UK’s economic ‘doom loop’.
‘Protecting our NHS, reducing our national debt and improving the cost of living’
The news is grim – but this is the chancellor’s promise of what she is going to prioritise. But what does this amount to?
NHS: I understand this is not a promise of new money for waiting lists in this budget. Ms Reeves is actually making a political argument about the need to not U-turn on last year’s £22bn a year NHS investment – although the public may not hear it.
Cost of living: Partly this is an argument about investment already made in things like breakfast clubs. But with CPI inflation at 4.1%, it’s a major concern – but not one that can be tackled without government spending many billions. There will be some help for energy bills, but not the tens of billions that Liz Truss put towards such schemes. So this risks disappointment.
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18:28
Watch the chancellor’s speech in full
Reducing debt: It is not about to go down. Her fiscal rules mean she is going to be reducing debt as a percentage of GDP – and even then, only debt on some things, as the fiscal rules spell out some exemptions. So the actual amount we borrow from the markets will continue to grow.
Does it work?
Today is about saying with a louder megaphone things we already knew. She declined to say whether ultimately she will break the manifesto, or what will happen.
She has, however, candidly started a conversation that needed to begin.
Jesse joined ESPN Chicago in September 2009 and covers MLB for ESPN.com.
CHICAGO — The Chicago White Sox are picking up the $20 million option on center fielder Luis Robert Jr.‘s contract for 2026, sources tell ESPN.
Robert, 27, hit .223 with 14 home runs and 33 stolen bases last season while playing in 110 games. The oft-injured veteran hasn’t produced at a high level over the last two years but continues to possess an elite skill set. His biggest improvement came in reducing his strikeout totals. He had 172 in 2023. That fell to 141 in 2024 and just 112 last season.
While the strikeouts have gone down — he’s chasing fewer bad pitches — so have his home runs. After hitting 38 in 2023, he’s combined for just 28 over the last two seasons.
Robert has been the subject of trade rumors since the White Sox began an extended rebuild at the beginning of 2024 but the team has held out for a high return, citing his past success. He had an .857 OPS in 2023 after playing in a career high 145 games that season. He just hasn’t been able to repeat those numbers, limiting the offers the White Sox have received to this point. He had an OPS of .657 in 2024 and .661 in 2025.
Robert’s 6-year, $50 million contract ran out at the end of this season. The team has another $20 million option on him for 2027 as well.