US Open Jobs rose in February

U.S. employers posted more open positions in February, but the number of people getting hired and the number quitting jobs fell. The overall figures suggest that the job market remains healthy, although it has yet to take off during the early stages of the Trump presidency.

The Labor Department said Tuesday that job openings rose 2.1 percent in February to a seasonally adjusted 5.7 million. While more employers are seeking workers, hiring fell 2 percent compared to January to 5.3 million. Job openings have increased 3.2 percent over the past 12 months.

More than 2.5 million people quit their jobs in February, but that was a sharp 19.6 percent decline from January. This may be a sign that workers have mixed confidence about the economy, since workers typically quit either when they have another job, or are optimistic they can find one.

An increased pace of quits can also boosts wages, because most people quit for a new job at higher pay. It also indicates that employers may be recruiting workers from other jobs by offering bigger paychecks.

via Washington Post

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.