Job Openings Declined in March; Navy FCU Economist Offers View

WASHINGTON— Job openings in the United States declined in March, with economists saying President Donald Trump’s battles over trade have created an outlook of uncertainty.

According to the new Labor Department data, U.S. employers posted 7.2 million vacancies in March, down from 7.5 million in February and 8.1 million in March 2024. It was the fewest number of openings since September and below the 7.5 million jobs that many had forecast.

One slightly more upbeat data point is the DoL’s Job Openings and Labor Turnover Summary found the number of Americans who had quit their jobs — which is a sign of confidence that another job can be found—actually ticked up a bit. In addition, layoffs fell to the lowest level since June 2024.

Analysts noted that openings remain high by historical standards but have fallen steadily since peaking at 12.1 million in March 2022 when the economy was still bouncing back from COVID-19.

DOGE Cuts Have Little Effect

The Labor Department said that the federal job cuts that have been led by Elon Musk’s Department of Government Efficiency didn’t have much of an effect on the overall numbers, and that federal layoffs actually declined to 8,000 from February’s 19,000, which had been the most since November 2020.

“The job market is continuing to hold its own, but barely,” Robert Frick, economist with the Navy Federal Credit Union, said in a statement. “While job openings dropped below forecasts, they haven’t hit a post-COVID low.

“Hiring holds steady and layoffs dipped a bit, showing that, overall, employers are clinging to the employees they have,” he added. “But this is likely the calm before the storm, as layoffs are pending in government contractors and manufacturers, and other sectors affected by government layoffs and tariffs.”

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