Gate News reports that on March 8, U.S. financial and insurance industry job openings declined by 117,000 to 134,000 in December, reaching the lowest level since February 2012. The total number of job openings in the industry has fallen by 410,000 since its peak in 2022, a 75% decrease. The job vacancy rate (the proportion of open positions relative to total positions) dropped to 1.9%, meaning fewer than 2 out of every 100 jobs are vacant — the lowest since February 2010 and the lowest this century except for the lows in 2009-2010. Compared to the largest single-month decline of 125,000 during the 2008 financial crisis, this decline is even greater. Data indicates that the financial industry is facing further layoffs.
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