February US job openings slip to 7.6M, consistent with a healthy but decelerating job market

WASHINGTON (AP) — Employers posted 7.6 million job openings in February, a sign that that the job market is slowing but remains healthy.

The number of vacancies fell slightly from a revised 7.8 million in January and from a 8.4 million a year earlier. Openings have come down more or less steadily since peaking at 12.2 million in March 2022 when the economy was still roaring back from COVID-19 lockdowns.

The American job market has proven surprisingly durable. But it has clearly lost momentum from the frantic hiring days of 2021-2023. And the outlook for hiring is cloudy as President Donald Trump pursues trade wars, purges the federal workforce and promises to deport millions of immigrants working in the United States illegally.

On Friday, the Labor Department issues the jobs report for March. According to a survey of forecasters by the data firm FactSet, it is expected to show that employers added 125,000 jobs last month, down from 151,000 in February and an average 168,000 a month in 2024. The unemployment rate is forecast to tick up to a still-low 4.2%.