https://www.wsj.com/articles/u-s-layoffs-jumped-in-march-as-job-openings-fell-3805c6a1
Construction, leisure and hospitality and healthcare cuts drive March increase in layoffs
U.S. job openings dropped to their lowest level in nearly two years in March and layoffs rose sharply, in signs that demand for workers is cooling a year after the Federal Reserve began lifting interest rates to combat inflation.
Layoffs rose to a seasonally adjusted 1.8 million in March from the prior month, up from a revised 1.6 million in February, the Labor Department said Tuesday. The increase was led by job losses in construction, leisure and hospitality and healthcare industries—sectors that have driven job growth in recent months as tech, finance and other white-collar industries cooled.
Employers also reported a seasonally adjusted 9.6 million job openings in March, the Labor Department said Tuesday, a decrease from a revised 10 million openings in February.
Openings reached their lowest level in March since April 2021 and are down from the record 12 million recorded last March. But they remain well above levels before the pandemic and exceed the 5.8 million unemployed people looking for work in March.