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El Paso Faces Job Market Slowdown as Hiring Rates Hit 15-Year Low

KVIA•Tuesday, March 31, 2026 at 2:40 PM•CNN Newsource

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Recent data reveals that U.S. businesses, including those in El Paso, are experiencing the slowest hiring pace in 15 years, with the hiring rate dropping to 3.1% by the end of February. This decline, the steepest since 2016, signals a troubling trend exacerbated by ongoing global conflicts, particularly in the Middle East. Job openings have also decreased significantly, falling to approximately 6.88 million, while layoffs rose slightly to 1.72 million. The February jobs report indicates a loss of about 92,000 jobs nationwide, raising concerns about the overall health of the labor market. The economic implications could lead to higher costs for consumers and potential reductions in workforce hours.

Key Details: • Hiring rate fell to 3.1% by February, lowest since April 2020. • Job openings decreased from 7.24 million to 6.88 million. • February report indicates a loss of approximately 92,000 jobs nationwide. • Layoffs increased to 1.72 million, still within average rates. • Rising costs may force companies to raise prices or cut hours.

economy jobs labor-market hiring layoffs

People & Organizations

El PasoBureau of Labor StatisticsElizabeth RenterLaura UllrichIndeed Hiring LabNerdWallet

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