Paul Wiseman, AP Economics Writer
WASHINGTON (AP) – Employers posted 7.6 million job openings in February. This indicates that the job market is slowing but healthy. Federal workers layoffs have reached the highest level since the Covid-19 pandemic denounced the economy in 2020 as Elon Musk’s job cuts began to appear in employment data around the country.
The number of vacant rooms fell slightly from the 7.8 million revisions in January, down from 8.4 million the previous year, the Labor Department reported Tuesday. Openings have been steadily declining, more or less, since the economy peaked at 12.1 million people in March 2022, when they had returned from the Covid-19 lockdown.
The layoffs rose from 1.7 million in January to 1.8 million in February. The federal agency removed 18,000 workers. Mostly since October 2020, retailers who are cautious about their outlook for 2025 fired 238,000 people in February.
The Labor Bureau’s job opening and labor sales summary showed that the total number of people leaving their jobs (a sign of confidence that they can find better wages and working conditions elsewhere) fell slightly in February.
The American job market has proven to be surprisingly durable. However, they have clearly lost momentum from their desperate employment dates between 2021 and 2023. And employment prospects are cloudy as President Donald Trump pursues a trade war, removes federal labor, and commits to illegally expel millions of immigrants in the United States.
It began to influence the optimism that Americans hold about the job market and the economy. Late last month, the University of Michigan released an updated Consumer Sentiment Survey in March. The survey found increased anxiety about inflation and work.
Economists are worried Trump’s Trade War – is expected to announce swept tariffs to American trading partners on Wednesday.
“The job market remains a breakwater for the economy and is slowly eroding, but does not show the expected crack of a recession,” said Robert Frick, an economist for the Navy Federal Credit Union, in a commentary in the Job Opening Report. “How to withstand attacks from the impact of tariffs on consumers and businesses is a key question and will not be answered until later this year.”
On Friday, the Department of Labor will issue its March employment report. A survey of forecasters by data firm Factset shows employers added 125,000 jobs last month, down from 151,000 in 2024 to an average of 168,000 per month. The unemployment rate is still projected to reach 4.2%.
Original issue: April 1, 2025, 11:48am EDT
