Job Market Stays Strong Despite Layoffs and Interest Rates

Job openings stayed steady in February, remaining at historically high levels showing the job market is still strong.

Layoffs ticked up in February to the highest level since March 2022, but quit rates rose showing worker confidence.

Job openings down from a peak in March 2022 but still very high compared to pre-2021 levels.

Economists had expected higher interest rates to trigger a recession, but the economy keeps growing and employers are still hiring.

Inflation is coming down from 40-year highs while job growth stays sturdy, raising hopes of a "soft landing" for the economy.