February’s job listings declined from a revised 10.6 million in January – in a sign that a softer U.S. economy is loosening up an historically tight labor market.
The numbers: Job openings fell to a 21-month low of 9.9 million in February in a sign that a softer U.S. economy is loosening up a historically tight labor market.
The number of people quitting jobs, meanwhile, rose slightly to 4 million, which came as a bit of a surprise. Quits had fallen below 4 million in January for the first time in 19 months. The number of job openings for each unemployed worker dropped to 1.7 in February from 1.9 in the prior month. That’s the lowest level since October 2021, but it is still well above prepandemic levels of 1.2.The so-called quits rate among private-sector workers rose a tick to 2.9%. It peaked at 3.3% almost one year ago.
“The job market is still not at the point where the Fed can take a step back and chill,” said senior economist Jennifer Lee of BMO Capital Markets.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US: JOLTS Job Openings decline to 9.9 million in February vs. 10.4 million expectedUS: JOLTS Job Openings decline to 9.9 million in February vs. 10.4 million expected – by eren_fxstreet Employment UnitedStates Macroeconomics EconomicIndicator
Read more »
US labor market loosening as job openings approach two-year lowU.S. job openings dropped to their lowest level in nearly two years in February, suggesting that labor market conditions were finally easing, welcome news for the Federal Reserve as it considers whether to pause its interest rate hiking cycle.
Read more »
USD/CAD weakens back below 1.3500 mark, touches its lowest since February 21The USD/CAD pair attracts fresh sellers following a modest intraday bounce to the 1.3535 area on Monday and drops to a fresh low since February 21 dur
Read more »
Construction spending falls in FebruaryConstruction spending fell 0.1% in February, the Commerce Department reported Monday.
Read more »
China: Plug-In Car Sales Reached 33% Market Share In February 2023Plug-in electric car sales in China substantially increased in February, which is a positive sign after the slowdown in January.
Read more »
JSO arrests suspect in February Pine Forest murderThe Jacksonville Sheriff’s Office arrested Harold Samuel, 25, on Friday in connection with a Feb. 20 murder in the Pine Forest neighborhood.
Read more »