Job Openings Dip and Resignations Ease Off Highs, Pointing to Cooling Job Market

Job openings fell slightly in January while resignations dropped to a 3-year low, signaling the job market is cooling.

There were 1.45 jobs open for every unemployed person, indicating the labor market remains strong.

Job openings rose in manufacturing and some services sectors but fell in state/local government and private education.

Fewer workers quit their jobs, especially in retail, healthcare, and professional services - a sign of easing wage pressures.

Layoffs remained low in January despite some high-profile job cuts.