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Key Points:
According to the Bureau of Labor Statistics, US job openings rose to 7.7 million in January, up modestly from 7.5 million in December. The number and rate of hires was unchanged in January, at 5.4 million and 3.4%, respectively. The backward-looking data in the January JOLTS report may not adequately capture the impacts of more recent volatility and policy changes that occurred in February and early March.
Today’s January JOLTS data is a bit of a time capsule that does not adequately capture the fast-moving nature of the new administration and the uncertainty that has marked