DataEconomy

US Job Opportunities Plummet by 556,000 in December Amid Stabilizing Layoffs

Economy News – Follow-Up

Recent data released in the United States indicates a notable decline in job opportunities, with a reduction of 556,000 positions in December, bringing the total number of job openings to 7.6 million.

The US Department of Labor’s monthly employment report, published on February 4th, revealed a revision of November’s job openings, which were adjusted to 8.156 million from a previously reported 8.098 million.

Economists had projected the number of job openings for December to be around eight million, in line with predictions from a recent survey.

Additionally, layoffs across the United States saw a decrease of 29,000, totaling 1.771 million in December. However, those affected by these layoffs are facing challenges in securing new employment opportunities due to a cautious stance among employers.

In the context of economic uncertainty influenced by the policies of the new US administration, the Federal Reserve opted to maintain its benchmark interest rate in the range of 4.25% to 4.50% during its most recent meeting last week.

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