The February 2026 JOLTS report, released on March 31, 2026, shows a cooling labor market with job openings falling more than expected to 6.882 million. This reflects a decrease of 358,000 from the revised January figure of 7.2 million.
Key Statistics (February 2026)
- Job Openings: 6.882 million (Rate: 4.2%), down from 7.2 million in January.
- Hires: 4.8 million (Rate: 3.1%), the lowest hiring rate since April 2020.
- Quits: 3.0 million (Rate: 1.9%), down from 2.0% in the previous month, signaling lower worker confidence.
- Layoffs: 1.7 million (Rate: 1.1%), remaining relatively low and stable.
- Labor Tightness: There are now approximately 0.91 jobs available per unemployed worker, which is significantly below pre-pandemic levels.
Sector & Regional Highlights
- Declines: Significant drops in job openings occurred in Accommodation and Food Services (-211,000) and Mining and Logging (-12,000).
- Regional Openings: Openings fell across all major regions:
- South: -160,000
- Northeast: -110,000
- Midwest: -58,000
- West: -19,000
Market Implications
The softening data complicates the Federal Reserve's next steps. While a weaker labor market traditionally supports interest rate cuts, recent oil-driven inflation surges may discourage easing. The next JOLTS update is scheduled for May 5, 2026.
Would you like me to compare these February JOLTS figures with the latest March Jobs Report to see if the downward trend continued?
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