Hiring, separations, and quits remain stable as the labor market shows resilience.
The U.S. Bureau of Labor Statistics reported that job openings remained largely unchanged at 7.6 million in February, reflecting continued strength and stability in the labor market. Hiring and total separations also held steady, with 5.4 million hires and 5.3 million separations recorded across the nonfarm sector.
Among separations, voluntary quits stood at 3.2 million, indicating that workers maintained a cautious level of confidence in the labor market. Layoffs and discharges remained steady at 1.8 million.
Job openings were down by 877,000 compared to the same period last year, with the job openings rate remaining at 4.5%. The most notable sector decline was in finance and insurance, which saw a reduction of 80,000 openings. Hiring activity remained unchanged, with the hiring rate at 3.4%, which is in line with historical norms.
Total separations remained at 5.3 million, with a steady separation rate of 3.3%. Quits, often considered a sign of labor market confidence, held at 3.2 million. However, they declined by 273,000 compared to February 2024. The quit rate remained at 2.0%, with slight increases in state and local government education roles (+28,000).
Layoffs and discharges remained unchanged overall, though certain industries showed movement. Layoffs rose in retail trade (+67,000), real estate and leasing (+24,000), and the federal government (+18,000). They declined in transportation, warehousing, and utilities (-42,000). Other separations, including retirements and transfers, dropped by 67,000 to 275,000.
Small businesses (1–9 employees) experienced slight increases in layoffs and declines in quits and other separations, but most labor dynamics remained stable. Large businesses with over 5,000 employees also saw little change across job openings, hires, and separations.
The BLS revised January job openings upward by 22,000 to 7.8 million. Hires were adjusted downward by 22,000, while total separations increased by 20,000 to 5.3 million. Quits were revised down by 10,000, and layoffs and discharges were revised up by 39,000.
Source: The U.S. Bureau of Labor Statistics
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