Job opportunities are shrinking as economic uncertainty grows

  • CNN
  • April 1, 2025
CNN

 — 

US employers pared back on their hiring plans in February, a likely reflection of a job market cooldown driven in part by heightened uncertainty amid the Trump administration's sweeping policy moves.

The 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. February's total marks a retreat after the number of available jobs rose to 7.76 million to begin the year.

January's report also showed that hiring activity remained steady, layoffs fell and the number of quits rose, an indication of increased worker confidence.

However, economists warned that early 2025 labor market data, including the January JOLTS report, were likely the "calm before the storm." President Donald Trump's fast-moving policy actions, including drastic workforce reductions within the federal government, are expected to ripple through the private sector, potentially stifling growth there and in the US economy as a whole.

FactSet consensus estimates show economists expected February's job openings to drop to 7.625 million from 7.74 million.

https://edition.cnn.com/2025/04/01/economy/us-jolts-job-openings-layoffs-february/index.html