Posted 4/2/2024, 4:42:45 PM
US Job Openings Edge Up in February While Hiring and Quits Rates Hold Steady, Signaling Resilient Labor Market
- Job openings ticked up slightly in February to 8.76 million while hiring also increased to 5.8 million
- Data shows continued signs of resilience in the US labor market, with a healthy quits rate of 2.2%
- Hiring and quits rates remaining stable would signal labor demand isn't weakening further
- Data eases concerns about downside risks to the economy from a patient Fed approach to rate cuts
- March jobs report on Friday expected to show cooling but still solid labor market, adding 200K jobs