Job Market Freeze: Lowest Hiring Rate Since 2011
Business & Finance News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Februarys hiring rate plummeted to a record low of 3.1%, with total hires dropping by 387,000 from last year. Job openings remained steady at 6.9 million, but the job scene is stuck in a no-hire-no-fire mode. Quits held at 1.9% and layoffs dropped to 1.7 million, below last years pace. Major companies like Amazon, UPS, and Epic Games announced cuts, impacting hospitality and construction. Middle East tensions could further dampen hiring plans, turning the current freeze into a riskier situation.
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