TechFlow News, March 31: According to JINSHI Data, U.S. job openings declined in February, and hiring notably slowed—indicating that labor demand had already begun cooling before the added uncertainty triggered by the Iran conflict. Data released Tuesday by the U.S. Bureau of Labor Statistics showed job openings fell to 6.88 million, down from a revised 7.24 million in January. Following a brief rebound in early-year openings, the simultaneous slowdown in both hiring and openings suggests businesses have grown more cautious about staffing after a year of near-zero growth. Looking ahead, the war-driven surge in oil prices could raise corporate operating costs and further hinder hiring. The decline in job openings was primarily driven by reductions in accommodation and food services, healthcare and social assistance, and manufacturing. The hiring rate dropped to its lowest level since April 2020, while the layoff rate edged up slightly. Although major companies—including Meta and Oracle—are implementing large-scale layoffs to reallocate resources toward AI investments, overall layoff levels across the broader economy remain relatively modest.
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