All posts tagged: stagnates

Hiring in the US drops to pandemic lows as job market under Trump stagnates | Business and Economy News

Hiring in the US drops to pandemic lows as job market under Trump stagnates | Business and Economy News

Job openings in the United States have dropped to their lowest level in six years, as the demand for labour stalls amid concerns about trade, immigration and the surging role of artificial intelligence (AI). Tuesday’s Job Openings and Labour Turnover Survey (JOLTS), a monthly report released by the US Labour Department, showed that job openings tumbled by 358,000 to 6.882 million in February. Recommended Stories list of 4 itemsend of list That was down from a projected 6.918 million job openings for the month, a steeper decline than experts had expected. In January, the JOLTS report had recorded 7.240 million job openings. Hiring efforts also slumped in February, with 498,000 fewer people hired, for a total of 4.8 million people. That marks the lowest hiring level since March 2020, during the COVID-19 pandemic. Fewer people are also leaving their jobs for new ones, reflecting stagnation in the job market. Three million people quit last month, for a rate of 1.9 percent. Alongside the stagnating job market, there has been a broader slump in consumer sentiment. …