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3 indicators the job market is seeing what one economist calls an ‘unambiguous cooldown'

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The U.S. job market remains strong. But new federal data on layoffs, job openings and quits points to a continuing slowdown.

Openings decreased to 9.6 million in March, a drop of 384,000 from February, according to JOLTS data.

Small businesses with fewer than 50 employees seem to have led the decline in overall job openings in March, said Julia Pollak, chief economist at ZipRecruiter. Quits are a proxy for worker confidence that they can find another job, since those who leave often do so for new employment.

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