From January 2007 to January 2008, job openings, hires, quits, and total separation rates fell significantly for the total nonfarm and private sectors in the U.S., reports the Bureau of Labor Statistics. There were 3.97 million job openings in January 2008, compared to 4.3 million in January 2007; hires were down by 447,000 in January 2008 compared to 2007.

BLS also reports that private sector employment declined by 101,000 in February 2008; however the overall nationwide unemployment rate was essentially unchanged at 4.8 percent. Employment fell in manufacturing (-52,000), construction (-39,000), real estate (-34,000) and retail trade (-34,000). Industries seeing job growth included health care (+36,000); over the past 12 months, health care has added 360,000 jobs.