Open Positions Continue to Exceed Pre-Pandemic Numbers

Job Market Health and Fluctuations in Factory Orders: An Overview

Despite recent interest rate hikes by the Federal Reserve to fight inflation, the job market seems to be healthy for workers. The number of job openings increased in February to 8.8 million, up from a revised 8.7 million in January. This growth was in line with forecasters’ expectations and meant that for every unemployed worker, there were 1.4 job openings, showing a healthy labor market. Additionally, the number of people quitting their jobs increased slightly to 3.5 million, while layoffs also rose to 1.7 million.

This trend suggests that workers may have gained some bargaining power, as higher quitting rates can indicate people leaving for better pay and working conditions. Despite these changes, overall, the dynamics in the labor market have remained relatively stable.

Meanwhile, factory orders rose 1.4% in February after a 4% decline in January, which was better than economists’ expectations of 1% growth. This growth was primarily driven by an increase in durable goods orders and transportation equipment orders, which rose for the first time in two months. As a result, new orders for manufactured goods reached $576.8 billion in February. The report also showed that total shipments grew by 1

Leave a Reply

Three new partners join the Business Litigation Team at King & Spalding Previous post King & Spalding Adds to Its Business Litigation Practice with Experienced Partners Jennifer Recine, Sarmad Khojasteh, and David Kupfer
Renovation of Cape Coral Outpatient Center by Lee Health is finished. Next post Lee Health Outpatient Center in Cape Coral Undergoes Major Renovation Project, Enhancing Patient Experience