US equities slip after job openings disappointment

February jobs report shows fewer jobs and layoffs on the rise, with DOGE federal layoffs likely not yet reflected

article-image

Arsenii Palivoda/Shutterstock and Adobe modified by Blockworks

share

This is a segment from the Forward Guidance newsletter. To read full editions, subscribe.


US equities slipped early in today’s session on February’s disappointing Job Openings and Labor Turnover Survey (JOLTS) report. 

The release shows that job openings continued to drop, while quits also declined. Hiring and firing rates were mostly unchanged. Layoffs, however, were on the rise. 

The S&P 500 and Nasdaq Composite indexes fell as much as 0.7% and 0.8%, respectively, after the report was published. 

Job openings came in at 7.56 million — a four-year low — compared with a projected 7.63 million. Additional DOGE-related layoffs and slowdowns in federal hiring are likely not included in February’s figures. 

Odds of a May interest rate cut from the Federal Reserve ticked up slightly on the report. Those odds now sit at 15.2%, per data from CME Group. 

Friday’s March employment report will give markets, and central bankers, a better look at current labor market conditions. If inflation continues to inch higher and the employment situation deteriorates further, the current pause may not last much longer.


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Hilton Park Lane

Tues - Wed, November 10 - 11, 2026

DAS London is a two-day summit at the Hilton Park Lane in London featuring conversations between the builders, allocators, and policy makers who are shaping the trajectory of the digital asset ecosystem in the UK, Europe, and North America.

Marina Bay Sands Singapore

Wednesday, October 07, 2026

DAS Asia is a a single-day summit at Marina Bay Sands Singapore featuring conversations between the builders, investors, and global leaders are shaping the trajectory of the digital asset ecosystem in Asia & North America.

recent research

Sponsored Article Template - Button (1).png

Research

Button is productizing the synthesis stack for discretionary traders. As market data becomes cheap and ubiquitous, the edge is shifting from access to synthesis: who can turn feeds, research, positions, and market context into a decision fastest. This report explores why AI is better suited to augmenting traders than replacing them, and how Button is building the workspace for that new market structure.

Newsletter

The Breakdown

Decoding crypto and the markets. Daily, with Byron Gilliam.

Blockworks Research

Unlock crypto's most powerful research platform.

Our research packs a punch and gives you actionable takeaways for each topic.

SubscribeGet in touch

Blockworks Inc.

133 W 19th St., New York, NY 10011

Blockworks Network

NewsPodcastsNewslettersEventsRoundtablesAnalytics