U.S. job openings fall to 11-month low

U.S. job openings dropped to an 11-month low in February and hiring decreased, which could explain a sharp slowdown in job growth during that month.

Job openings, a measure of labor demand, tumbled by 538,000 to a seasonally adjusted dropped 7.1 million, the Labor Department said in its monthly Job Openings and Labor Turnover Survey, or JOLTS, on Tuesday. That was the lowest level since March 2018 and reflected declines in several industries.

The job openings rate dropped to 4.5 percent from 4.8 percent in January. Hiring fell to 5.7 million in February from 5.8 million in the prior month. Nonfarm payrolls increased by only 33,000 jobs in February, the fewest since September 2017.

But job growth picked up in March, with the economy creating 196,000 positions, the government reported last Friday.

Reuters

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Dean Popplewell

Dean Popplewell

Vice-President of Market Analysis at MarketPulse
Dean Popplewell has nearly two decades of experience trading currencies and fixed income instruments. He has a deep understanding of market fundamentals and the impact of global events on capital markets. He is respected among professional traders for his skilled analysis and career history as global head of trading for firms such as Scotia Capital and BMO Nesbitt Burns. Since joining OANDA in 2006, Dean has played an instrumental role in driving awareness of the forex market as an emerging asset class for retail investors, as well as providing expert counsel to a number of internal teams on how to best serve clients and industry stakeholders.
Dean Popplewell