US Job Openings Plummet to Six-Year Low

U.S. job openings fell to their lowest level in six years in February 2026, pointing to softer demand for workers as the labor market shows signs of cooling. The Job Openings and Labor Turnover Survey (JOLTS), released on March 31, 2026 by the U.S. Labor Department, reported 6.882 million openings for the month.

The February total was down by 358,000 from the prior month and came in below the projected 6.918 million. It also marked a clear step down from January’s 7.240 million openings, reinforcing the view that employers are posting fewer roles as conditions become more uncertain.

Hiring activity weakened at the same time. The report showed 4.8 million people were hired in February, a decline of 498,000, and the lowest hiring level since March 2020. Together with the drop in openings, the hiring figure suggests that firms are not only advertising fewer jobs but are also moving more cautiously when it comes to bringing workers on payrolls.

Measures of worker mobility also eased. The number of people quitting their jobs fell to 3 million, and the quits rate was 1.9 percent, a combination that can indicate less confidence among workers about quickly finding a new position. Lower quits can also reduce wage pressure by limiting job-to-job moves, though the report itself does not assign causes.

The labor-market cooling is occurring alongside weaker consumer attitudes. A March report from the University of Michigan said consumer confidence declined 6 percent year-over-year and 5.8 percent month-over-month, reaching its lowest level since December. The same report cited trade policies, immigration concerns, the growing role of artificial intelligence, and higher energy prices following recent geopolitical events in the Middle East as factors contributing to uncertainty.

For markets and policymakers, the JOLTS figures are closely watched because they provide a timely read on labor demand and worker behavior. A sustained downshift in openings, hiring, and quits can influence expectations for household income growth and spending, which are central to the outlook for the U.S. economy. However, the data does not specify how long the slowdown will persist, and it remains unclear whether February represents a one-month dip or part of a broader trend.