Manufacturing Job Openings Fall
Job openings in manufacturing declined in February, mirroring a drop in the larger economy (CNN).
What’s going on: There were 482,000 seasonally adjusted positions available in manufacturing in February, down from 513,000 in January (U.S. Bureau of Labor Statistics).
- In total nonfarm payrolls, “[t]he number of job openings—a measurement of labor market demand—fell to 7.57 million in February, according to the Bureau of Labor Statistics’ latest Job Openings and Labor Turnover Survey released Tuesday,” CNN reports. “February’s total marks a retreat after the number of available jobs rose to 7.76 million to begin the year.”
The details: Openings in durable goods manufacturing declined to 348,000 seasonally adjusted jobs in February from 369,000 the previous month.
- Nondurable goods saw a dip, too: February had 133,000 seasonally adjusted openings, while January had 144,000.
Separations: Separations in the larger nonfarm-payroll economy inched down to about 5.26 million seasonally adjusted roles in February from about 5.27 million in January.
- In manufacturing, separations also fell, to 324,000 seasonally adjusted positions in February from 337,000 in January.
The big picture: “January’s report also showed that hiring activity remained steady, layoffs fell and the number of quits rose, an indication of increased worker confidence,” according to CNN. “However, economists warned that early 2025 labor market data, including the January JOLTS report, were likely the ‘calm before the storm.’”