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| JOLTS Data |
Today’s News: U.S. Labor Market Shows Signs of Cooling as JOLTS Data Reveals Year-Over-Year Trends
The latest release from the Bureau of Labor Statistics (BLS) provides a detailed snapshot of the U.S. labor market, highlighting changes in job openings, hires, and separations over the past year. Comparing data from March 2024 to March 2025 reveals a gradual cooling in labor demand, with notable declines in job openings and quits, while hires and layoffs have shown relative stability.
To better understand these shifts, let's examine the key metrics side by side:
| Metric | March 2024 | March 2025 | Change |
|---|---|---|---|
| Job Openings | 8.1M | 7.2M | -900,000 |
| Hires | 5.5M | 5.4M | -100,000 |
| Quits | 3.5M | 3.3M | -200,000 |
| Layoffs & Discharges | 1.6M | 1.6M | 0 |
| Total Separations | 5.2M | 5.1M | -100,000 |
The most significant change is the decline in job openings, which dropped by 900,000 over the year. This decrease suggests that employers are becoming more cautious in their hiring plans, potentially due to economic uncertainties and shifting market conditions.
Hires have seen a modest decline of 100,000, indicating a slight slowdown in the pace at which employers are adding new workers. Despite this, the hiring rate remains relatively stable, reflecting ongoing demand for labor in certain sectors.
The number of quits, often viewed as a measure of worker confidence, decreased by 200,000. This reduction may imply that employees are less inclined to leave their current positions, possibly due to fewer available opportunities or increased economic uncertainty.
Layoffs and discharges have remained steady at 1.6 million, suggesting that employers are not significantly increasing involuntary separations. This stability indicates that while hiring may be slowing, companies are not yet resorting to widespread layoffs.
Total separations, encompassing quits, layoffs, and other discharges, have decreased by 100,000, aligning with the overall trend of a cooling labor market.
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