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US job openings rose last month, though hiring slowed, in mixed picture for labor market

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          🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source
The number of job postings in the United States rebounded in October from a 3 1/2 year low in September, a sign that businesses are still seeking workers even though hiring has cooled. Openings rose 5% to 7.
The U.S. labor market presented a mixed picture in February, with job openings increasing to 8.756 million, up from January's revised figure of 8.748 million, according to the Labor Department's Job Openings and Labor Turnover Survey (JOLTS). Despite the slight rise in job vacancies, the pace of hiring slowed, with 5.8 million hires compared to 6.3 million in January. Additionally, the quits rate, which indicates workers' confidence in finding new employment, dropped to 2.2%, the lowest since August 2020, suggesting a cautious approach among employees. Layoffs also saw a decrease, falling to 1.6 million from 1.7 million, indicating some stability in employment. This data reflects a labor market that is still robust but showing signs of cooling, with fewer people leaving their jobs and companies being more selective in their hiring.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/money/other/us-job-openings-rose-last-month-though-hiring-slowed-in-mixed-picture-for-labor-market/ar-AA1vcjSF ]