Job openings data shows US labor market remains 'quite healthy'

Source: Yahoo! Finance

Tue, Apr 2, 2024, 12:42 PM EDT


Job openings ticked up slightly in February as hiring also increased, reflecting further signs of resilience in the US labor market.

New data from the Bureau of Labor Statistics released Tuesday showed there were 8.76 million jobs open at the end of February, a slight increase from the 8.75 million job openings in January, which was revised lower. Economists surveyed by Bloomberg had expected the report to show there were 8.73 million openings in February.

The Job Openings and Labor Turnover Survey (JOLTS) survey also showed 5.8 million hires were made during the month, a slight increase from the 5.7 million seen in January. The hiring rate picked up slightly to 3.7% in February, up from the 3.6% rate seen in January.

"The February Job Openings and Labor Turnover Survey report is consistent with a labor market that is still quite healthy," Oxford Economics lead US economist Nancy Vanden Houten wrote in a note to clients on Tuesday.

Read more: https://finance.yahoo.com/news/job-openings-data-shows-us-labor-market-remains-quite-healthy-164245048.html

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