US job openings stay steady at nearly 8.9 million in January, a sign labor market remains strongPAUL WISEMAN
Wed, Mar 6, 2024, 9:09 AM CST
WASHINGTON (AP) — U.S. job openings barely changed in January but remained elevated, suggesting that the American job market remains healthy.
The Labor Department reported Wednesday that U.S. employers posted 8.86 million job vacancies in January, down slightly from 8.89 million in December and about in line with economists' expectations.
Layoffs fell modestly, but so did the number of Americans quitting their jobs — a sign of confidence they can find higher pay or better working conditions elsewhere.
Job openings have declined since peaking at a record 12 million in March 2022 as the economy roared back from COVID-19 lockdowns. But they remain at historically high levels: Before 2021, monthly openings had never topped 8 million.
The U.S. economy has proven surprisingly resilient despite sharply higher interest rates. To combat resurgent inflation, the Federal Reserve raised its benchmark interest rate 11 times between March 2022 and July 2023, bringing it to the highest level in more than two decades.
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https://finance.yahoo.com/news/us-job-openings-stay-steady-150955142.html
