Bloomberg (03/08/23) Saraiva, Augusta

The number of job openings declined to 10.8 million in January from an upwardly revised 11.2 million a month earlier, according to the U.S. Department of Labor. The median estimate in a Bloomberg survey of economists called for 10.5 million openings. Hiring increased, while the level of layoffs rose to the highest level since December 2020. The quits rate dropped to 2.5%, the lowest level since March 2021.

Job openings decreased in construction, accommodation, food services, and finance and insurance. Vacancies rose in transportation, warehousing and utilities, and nondurable goods manufacturing.

This article originally appeared on bloomberg.com. Use this link to see the full article: US Job Openings Drop to 10.8 Million But Are Still Too High for Fed