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Job Openings Drop In May As Hiring Stays Weak

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Purveyor Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-13-10 11:00 AM
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Job Openings Drop In May As Hiring Stays Weak
By CHRISTOPHER S. RUGABER

WASHINGTON (AP) -- Job openings dropped in May from the previous month and layoffs edged up, fresh evidence that employers are reluctant to add workers.

The decline in openings comes after a sharp rise the previous two months, driven by temporary government hiring for the 2010 census and more openings in the private sector.

The Labor Department said Tuesday that job openings fell to 3.2 million in May from 3.3 million in the previous month. April's upwardly revised figure was the highest in 18 months.

The department's report, known as the Job Openings and Labor Turnover survey, illustrates how competitive the job market is. There were about 4.7 unemployed people, on average, for each job opening in May. That's down from the peak of 6.3 last November, but is much higher than the 1.8 unemployed per opening when the recession began in December 2007.

Job openings have rebounded from the depths of the recession. May's total is 37 percent above the low point of 2.3 million openings in July 2009. But it's still far below pre-recession levels of about 4.5 million.

Layoffs increased by about 100,000 to 1.9 million in May, the department said, but remain at pre-recession levels. The department said layoffs rose to a peak of 2.6 million in January 2009.

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http://hosted.ap.org/dynamic/stories/U/US_JOB_OPENINGS?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2010-07-13-11-40-29
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