Posted 4/2/2024, 5:09:00 PM
US Job Openings Remain High But Show Signs of Cooling as Layoffs Tick Up
- US job openings edged higher in February to 8.8 million, remaining well above pre-pandemic levels but down from a record high in 2022
- Layoffs ticked up in February to 1.72 million, returning to pre-pandemic levels after 3 years below
- Ratio of job openings to unemployed people seeking work fell to 1.36, showing demand and supply in the job market has become more balanced
- Labor market data this week, including ADP employment report and monthly jobs report, will provide more insight into the state of the job market
- Fed is closely watching employment and inflation data to determine the right time to start cutting interest rates from their 23-year high