U.S. job openings fell to 6.882 million in February 2026, down from a revised 7.240 million in January, according to the Bureau of Labor Statistics (BLS) report released on March 31, 2026.
February 2026 JOLTS Data Summary
The labor market is currently described as being in a "low-hire, low-fire" equilibrium, with both job openings and hiring at levels not seen since the 2020 pandemic era.
- Job Openings: 6.88 million (Rate: 4.2%).
- Significant decreases occurred in accommodation and food services (-211,000) and mining and logging (-12,000).
- Hires: 4.85 million (Rate: 3.1%).
- This is the lowest hiring rate since April 2020.
- The largest declines in hiring were in accommodation and food services and construction.
- Quits: 2.97 million (Rate: 1.9%).
- The number of people voluntarily leaving their jobs reached its lowest level since August 2020, signaling decreased worker confidence in finding new roles.
- Layoffs and Discharges: 1.72 million (Rate: 1.1%).
- Layoffs remained relatively stable, though retail trade saw an increase of 72,000.
Market Context
- Labor Demand: The ratio of job openings to unemployed persons remains near 1.0, indicating a balanced but cooling market.
- Economic Impact: Analysts at KPMG and MacroMicro note that while the data doesn't show a "sharply deteriorating" market, the stagnation is making it difficult for new entrants to break into the workforce.
- Historical Revisions: January's openings were revised significantly upward to 7.2 million from the previously reported 6.9 million.
Would you like a more detailed look at the industry-specific declines in hiring, or are you interested in the March 2026 Employment Situation report due this Friday?
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