U.S. layoffs rose sharply in March and job openings dropped, in signs that demand for workers is cooling a year after the Federal Reserve began lifting interest rates to combat inflation
Construction, leisure and hospitality and healthcare cuts drove March layoff increase as job openings hit lowest level since April 2021
As interest rates rise and companies tighten their belts, white-collar workers have taken the brunt of layoffs and job cuts, breaking with the usual pattern leading into a downturn. WSJ explains why many professionals are getting the pink slip first. Illustration: Adele MorganU.S. job openings dropped to their lowest level in nearly two years in March and layoffs rose sharply, in signs that demand for workers is cooling a year after theLayoffs rose to a seasonally adjusted 1.
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