Jobs day in focus as markets fall from record highs

Jobs data reveals a slowdown in job-hopping #

Recent jobs data indicate a decline in job-hopping, as the quits rate in January reached its lowest level since August 2020. According to the Job Openings and Labor Turnover Survey (JOLTS) report, hiring activity, voluntary quits, and layoffs have all decreased. However, the number of job openings remains significantly higher than pre-pandemic levels, suggesting a strong labor market. Economists expected a slight decline in job openings, which stood at around 8.86 million in January. Experts believe this indicates ongoing strong hiring and a stable job market.