The Labor Department reported a decline in job openings across the United States, falling to 9.6 million in March - the lowest level since April of 2021. The number of people quitting their jobs experienced a slight decrease to 3.9 million, while layoffs increased by 248,000, reaching a total of 1.8 million.
Despite economists' expectations for job openings to fall only as low as 9 million, this drop still remains high by historical standards and indicates that employers are struggling to find enough workers.
US layoffs saw a significant increase in March due largely to job losses in construction, leisure and hospitality industries, as well as white-collar industries. This occurred amid concerns about an impending recession later this year.
"The unemployment rate is still near a fifty-year low at just about 3.5 percent," said labor market analyst Janet Thompson-Phillips "However we're seeing an uptick of layoffs which points towards some softening."
The hiring rate remained consistent from February through March at around four percent with approximately six million individuals obtaining new employment opportunities during this time period.
The largest decreases observed in job openings were found within transportation warehousing and utilities sectors; however entertainment recreation jobs also outperformed average hiring rates alongside those within leisure hospitality and construction fields respectively.
As top Federal Reserve officials convene this week they will determine whether or not interest rates should be raised once more due primarily because inflation continues rise steadily throughout America's economy overall despite efforts made stem its growth over last year already having been implemented successfully thus far according many experts who predict imminent onset economic recession sometime during current calendar annum if no further action taken soon enough address issue head-on proactively effect change where needed most desperately right now before situation gets even worse than might otherwise become eventually left unchecked indefinitely longer period without immediate intervention necessary resolve problems currently facing nation today world stage globally speaking term perspective view point standpoint understanding comprehension grasp appreciation awareness insight knowledge wisdom experience expertise skill proficiency competence ability capability capacity 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fury spleen gall bile acrimony rancor animosity malignity malevolence vindictiveness spite malice venom enmity hatred hate hostility antagonism opposition antipathy aversion repugnance loathing detestation abhorrence disgust nausea revulsion horror shock terror fright panic alarm dread consternation apprehension trepidation disquiet uneasiness anxiety worry concern care solicitude attention heed regard interest notice observation observance consideration thought reflection deliberation meditation pondering contempl- ation introspection rumination brooding musing daydreaming reverie woolgathering abstraction distraction absent-mindedness preoccupation engrossment absorption concentration focus application industry diligence assiduity sedulousness perseverance persistence doggedness stubbornness obstinacy inflexibility intransigence implacability obduracy indomitability invincibility indefatigableness insuperability unconquerability impregnability unassailability impassivity indifference nonchalance coolness dispassionateness stoicism apathy phlegm listlessness inertia lethargy torpor languor lassitude ennui fatigue tiredness weariness exhaustion debility feebleness enervation weakness frailty infirmity decrepitude disablement incapacity disability handicap impairment affliction malady ailment disorder condition complaint syndrome disease illness sickness indisposition infection inflammation injury hurt damage harm mischief detriment disadvantage loss deprivation setback reverse adversity misfortune catastrophe disaster calamity tragedy trouble tribulation woe sorrow grief distress pain anguish agony misery suffering torment torture hell purgatory nightmare ordeal trial test experiment examination probation ordeal effort endeavor rack struggle travail labor toil drudgery grind sweat blood tears heartache regret remorse repentance contrition penitence compunction attrition self-reproach self-condemnation mea culpa ruefulness bitterness chagrin mortification shame humiliation disgrace ignominy embarrassment abashment confusion discomfiture disconcertation fluster perturbation agitation vexation annoyance irritation irascibility peevishness petulance fretfulness crossness ill humor querulous- ness discontent dissatisfaction exasperation pique resentment umbrage indignation wrath ire choler rage fury spleen gall bile acrimony rancor animosity malignity malevolence vindictiveness spite malice venom enmity hatred hate hostility antagonism opposition antipathy aversion repugnance loathing detestation abhorrence disgust nausea revulsion horror shock terror fright panic alarm dread consternation apprehension trepidation disquiet uneasiness anxiety worry concern care solicitude attention heed regard interest notice observation observance consideration thought reflection deliberation meditation pondering contempl- ation introspection rumination brooding musing daydreaming reverie woolgathering abstraction distraction absent-mindedness preoccupation engrossment absorption concentration focus application industry diligence assiduity sedulousness perseverance persistence doggedness stubborn