"US Labor Market Holds Strong with 8.8 Million Job Openings in February"

The global layoff announcements by big companies have led to a stabilization in the labor market, with fewer people quitting their jobs and fewer job openings being left behind. Job openings remain at high levels, while voluntary quits have risen for the second month in a row. Hires have also increased, indicating a still tight employment environment. Layoffs and discharges, though up from pandemic lows, are still lower than pre-pandemic levels. The data, based on surveys of work sites, shows that the labor market has stopped loosening further, with job openings varying by industry.