Job openings unexpectedly rose in January, signaling a robust labor market in the early days of the new Trump administration.
According to the Job Openings and Labor Turnover Summary (JOLTS), employment vacancies surged by 232,000 to 7.74 million in January, up from a downwardly adjusted 7.51 million in the previous month.
This came in higher than the consensus forecast of 7.63 million.
The most notable increases were observed in retail (143,000), finance and insurance (77,000), and health care and social assistance (58,000). The decline in job openings centered on professional and business services, tumbling 122,000.
Over the year, the number of job openings was down by 728,000.
The number of job quits—a measure monitored by economists as it signals workers’ confidence in finding a new position in today’s economy—increased to 3.266 million from 3.095 million in December….