UNITED STATES NEWS

US job openings stay steady at nearly 8.9 million in January, a sign labor market remains strong

Mar 6, 2024, 8:09 AM

A technician installs solar panels on a roof of a home in Arlington Heights, Ill., Monday, Feb. 26,...

A technician installs solar panels on a roof of a home in Arlington Heights, Ill., Monday, Feb. 26, 2024. On Wednesday, March 6, 2024, the Labor Department reports on job openings and labor turnover for January. (AP Photo/Nam Y. Huh)
Credit: ASSOCIATED PRESS

(AP Photo/Nam Y. Huh)

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.

Higher borrowing costs have helped bring inflation down. Consumer prices rose 3.1% in January from a year earlier, down from a year-over-year peak of 9.1% in June 2022 but still above the Fed’s 2% target.

The job market has remained durable throughout.

Employers have added a robust average of 244,000 jobs a month over the past year, including 333,000 in December and 353,000 in January.

The Labor Department’s February jobs numbers, out Friday, are expected to show that employers added another 200,000 jobs last month, according to a survey of forecasters by data firm FactSet. The unemployment rate likely stayed at 3.7%, which would mark the 25th straight month it’s come in below 4% — longest such streak since the 1960s.

The job market is cooling from the red-hot days of 2022 and 2023 in a mostly painless way — through fewer openings. Despite a wave of high-profile layoffs, the number of job cuts across the economy remains relatively low.

United States News

Associated Press

The Latest | Witness testimony in Trump’s hush money trial to resume with Costello on the stand

NEW YORK (AP) — Witness testimony in Donald Trump’s hush money trial could enter its final day on Tuesday with the defense expected to rest its case after calling just a handful of witnesses. Should the defense rest its case, Judge Juan M. Merchan has said he will send the jury home until closing arguments […]

3 hours ago

Associated Press

Defense witness who angered the judge in Trump’s hush money trial will return to the stand

NEW YORK (AP) — A defense witness in Donald Trump’s hush money case whom the judge threatened to remove from the trial over his behavior will return to the stand Tuesday as the trial nears its end. Trump’s lawyers are hoping Robert Costello’s testimony will help undermine the credibility of a key prosecution witness, Trump […]

9 hours ago

Associated Press

Voters to decide whether prosecutor and judge in Georgia Trump election case keep their jobs

ATLANTA (AP) — Voters will decide whether two key players in the Georgia election interference case against former President Donald Trump will keep their jobs. Fulton County District Attorney Fani Willis and Superior Court Judge Scott McAfee are both on the ballot for Tuesday’s election. Willis is the prosecutor who last year obtained a sprawling […]

9 hours ago

Associated Press

NRA names new leadership to replace former CEO found liable for wrongly spending millions

DALLAS (AP) — The National Rifle Association, which has had its image sullied by former leader Wayne LaPierre’s spending excesses, elected Doug Hamlin as executive vice president and CEO on Monday. “Our association is at a decisive moment in our history, and the future of America and constitutional freedoms depends on the success of the […]

11 hours ago

An indoor cannabis farm in Gardena, Calif., is seen, Aug. 15, 2019. The Biden administration’s pu...

Associated Press

Justice Department decides to move ahead to reclassify marijuana without DEA signoff

The Biden administration’s push to reclassify marijuana as a less-dangerous drug is going forward without the support of the DEA.

11 hours ago

Follow @ktar923...

Sponsored Content by Sanderson Ford

3 new rides for 3 new road trips in Arizona

It's time for the Sanderson Ford Memorial Day sale with the Mighty Fine 69 Anniversary, as Sanderson Ford turned 69 years old in May.

Sponsored Articles

...

Condor Airlines

Condor Airlines can get you smoothly from Phoenix to Frankfurt on new A330-900neo airplane

Adventure Awaits! And there's no better way to experience the vacation of your dreams than traveling with Condor Airlines.

...

DESERT INSTITUTE FOR SPINE CARE

Desert Institute for Spine Care is the place for weekend warriors to fix their back pain

Spring has sprung and nothing is better than March in Arizona. The temperatures are perfect and with the beautiful weather, Arizona has become a hotbed for hikers, runners, golfers, pickleball players and all types of weekend warriors.

...

Midwestern University

Midwestern University Clinics: transforming health care in the valley

Midwestern University, long a fixture of comprehensive health care education in the West Valley, is also a recognized leader in community health care.

US job openings stay steady at nearly 8.9 million in January, a sign labor market remains strong