The U.S. labor market showed unexpected resilience in January, with job openings rising slightly to 7.7 million, up from 7.5 million in December, according to the latest data from the Bureau of Labor Statistics.
- This marks the second-highest level in the past eight months, defying economist expectations of a decline.
- Breaking It Down: The increase was driven in part by growth in the real estate and rental and leasing sector, which added 46,000 new openings.
Total separations—which include layoffs, discharges, and quits—held steady at 5.3 million. However, quits rose to 3.25 million, the highest level in six months and slightly above forecasts.
- Workers tend to quit jobs when they feel confident about finding new opportunities, signaling a still-tight labor market.
Bottom Line: The labor market continues to show signs of strength despite signs of a slowing economy.
