Job Market Slowdown: Hiring Drops, Quits Plunge

It's March 31st.

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Job openings dropped to 6.9 million in February, down from 7.2 million a month before, signalling

a slowdown in the U.S. labor market.

Hiring hit 4.85 million, the lowest since April 2020, with a hiring rate falling to 3.1%.

Quits also plunged to 2.97 million, fewest since August 2020, while layoffs ticked up.

This points a caution from the Iran war spiking gas prices over $1.00 a gallon, plus high interest

rates, policy uncertainty, and AI shaking.

Things up as reasons for the stall.

Net job growth has been weak.

Under 10,000 a month this year, outside recessions since 2002, January added 126,000, but February

lost 92,000.

March reports due Friday could show 60,000 added.

Net employment holds steady at 4.4% in this low higher, low fire setup, where firms cling

to workers amid AI fears for entry level, roles, but the vibe stays tense heading forward.