The JOLTS report showed that job vacancies totaled 9.59 million for the month, down from 9.97 million in February.
Job vacancies totaled 9.59 million for the month, down from 9.97 million in February and below the FactSet estimate for 9.64 million.
Layoffs and discharges jumped by 248,000, taking the rate as a share of the workforce up to 1.2% from 1%.An employee hiring sign with a QR code is seen in a window of a business in Arlington, Virginia, April 7, 2023.Employment openings pulled back further in March, hitting a nearly two-year low in a sign that the ultra-tight U.S. jobs market is loosening up and possibly putting less pressure on inflation, the Labor Department reported Tuesday.showed that job vacancies totaled 9.
At the same time, layoffs and discharges jumped by 248,000 to just over 1.8 million, taking the rate as a share of the workforce up to 1.2% from 1%. Though the data set runs a month behind the nonfarm payrolls number, the Federal Reserve watches the JOLTS report closely for signs of labor slack. A lower number is positive for inflation as it indicates less pressure on wages and could ease pressure on the Fed to continue raising interest rates.
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US: JOLTS Job Openings decline to 9.59 million in March vs. 9.77 million expectedUS: JOLTS Job Openings decline to 9.59 million in March vs. 9.77 million expected – by eren_fxstreet Employment EconomicIndicator Macroeconomics UnitedStates
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