Job openings plummeted by 632,000 in February to 9.9 million, but still outnumber available workers as the labor market remains tight, according to the monthly JOLTS report released by the U.S. Bureau of Labor Statistics. The report shows the long-anticipated slowdown in the demand for workers as employers become more cautious about a potential recession. Available jobs remain historically high however, and outnumber unemployed workers by approximately 4 million.
The number of people quitting remains elevated as 4 million workers left their jobs in February. Layoffs in February fell by over 200,000 to 1.5 million, amid continued reports of job cutting in a variety of sectors.
On Friday, the Department of Labor will report on how many jobs the U.S. economy added in March, the unemployment rate and wage gains for the month.
Related Content
As artificial intelligence technology continues to develop, the demand for workers with the ability to work alongside and manage AI systems will increase. This means that workers who are not able to adapt and learn these new skills will be left behind in the job market.
A vast majority of U.S. professionals say students entering the workforce should have experience using AI and be prepared to use it in the workplace, and they expect higher education to play a critical role in that preparation.
Advertisement
An organization run by AI is not a futuristic concept. Such technology is already a part of many workplaces and will continue to shape the labor market and HR. Here's how employers and employees can successfully manage generative AI and other AI-powered systems.
Advertisement