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Key Points:
According to the Bureau of Labor Statistics, U.S. job openings fell to 7.6 million in February from an upwardly revised 7.8 million in January. The layoff, hires, and quits rates all remained largely unchanged, suggesting a market frozen in place since the start of the year. There are some early signs that state and local governments are beginning to feel the spillover from several months of rapid changes to the federal workforce, especially in the education sector.
Punxsutawney Phil’s February prognosis was for an extended winter — and JOLTS data from that month shows a market