Job openings barely fell in February as the labor shortage remained historically intense
The labor shortage barely eased through February as hiring boomed and more Americans rejoined the workforce.Job Openings and Labor Turnover Survey
Openings fell the most in the finance and insurance sector, with such firms shedding 63,000 openings. Non-durable goods manufacturers followed with a 39,000-opening decline. The report offers new detail on just how well the labor market rebounded through February. The month's jobs report showed the US, blowing the median forecast for 440,000 new jobs out of the water. The unemployment rate also improved more than expected, sliding to 3.8% from 4% and resuming its steady decline to pre-crisis levels. Revisions to December and January payroll growth brought yet another rosy update and cut further into concerns that the Omicron wave dented job creation.
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