Employers posted 7.6 million job openings in February, a sign that the job market is slowing but remains healthy.

The number of vacancies fell slightly from a revised 7.8 million in January and from a 8.4 million a year earlier, the Labor Department reported Tuesday. Openings have come down more or less steadily since peaking at 12.1 million in March 2022 when the economy was still roaring back from COVID-19 lockdowns.

Layoffs rose to 1.8 million in February from 1.7 million in January. Federal agencies laid off 18,000 workers, most since October 2020. Retailers, cautious about the outlook for 2025, laid off 238,000 in February, the highest figure since April 2020 in the depths of the recession.

“The jobs market remains the economy’s bulwark, and while it’s eroding slowly, it’s not showing cracks that foreshadow recession,” said Robert Frick, economist with Navy Federal Credit Union.

Hooters goes bust

The U.S. restaurant chain, known for chicken wings and its skimpy “Hooters Girls” wait-staff outfits, has filed for bankruptcy protection. HOA Restaurant Group filed the motion for Chapter 11 protection Monday in the North Texas Bankruptcy Court in Dallas.

It’s the latest legacy restaurant chain to run into financial trouble amid high food and labor prices, changing customer tastes and growing competition from newer casual chains like Shake Shack.

Red Lobster, TGI Fridays and Buca di Beppo all filed for bankruptcy protection last year, while the Tex-Mex chain On the Border filed for bankruptcy protection last month.

Under the Hooters bankruptcy plan, 100 company-owned U.S. restaurants would get sold to a group of Hooters franchisees. The franchisees, who include Hooters’ founders, currently operate 14 of the 30 highest-volume Hooters restaurants in the U.S., the company said.