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U.S. Job Openings Rise to 3.6 Million in May

But the number of layoffs rises to highest level since July 2010


The Labor Department reports that job-seekers had more opportunities in May compared to April.

The government said that job openings in May rose to a seasonally-adjusted 3.6 million, up from 3.4 million in April.

Jobs Data, Rate Cuts Bode Well for Stocks
Jobs Data, Rate Cuts Bode Well for Stocks

But that number still trailed March’s 3.7 million job openings, the Associated Press noted.

By comparison, in the months prior to the beginning of the economic downturn there were an average of 5 million jobs open each month.

Economists cited by the AP called the job opening numbers an encouraging sign that employers were looking to hire more workers.

According to Labor Department data, 12.7 million Americans remained jobless in May. Unfortunately, the economy only added an average of 75,000 jobs per month from April through June.

Job openings in May were up 18% from the year before, but hiring remains sluggish.

Balancing the good news, the government also noted that workers being laid off rose to the highest level since July 2010.

Article printed from InvestorPlace Media,

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