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Joseph Politano: U.S. hiring rate drops to lowest level since 2011

Joseph Politano: U.S. hiring rate drops to lowest level since 2011
U.S. hiring falls to 2011 low

U.S. labor market activity stayed muted in February as hiring slipped to its lowest level since early 2011. Joseph Politano highlighted that the hiring rate fell to 3.1 percent, with layoffs rising to 1.1 percent, quits declining to 1.9 percent, and job openings decreasing to 4.2 percent.

The new data, released this morning, underscore continued caution among employers and a challenging environment for job seekers as labor flows continue to slow.

Earlier this year, Politano reported that U.S. labor market hiring rose to 3.3% in January as layoffs and quits declined, according to new data releases at the time (link). The recent slowing follows an earlier drop in non-farm payrolls by 92,000, with the unemployment rate reaching 4.4 percent and average hourly earnings up 0.4 percent (link). These monthly shifts continue to define the current employment landscape.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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