Job Openings in U.S. Increased to an Almost Seven-Year High
By Shobhana Chandra Jul 8, 2014 11:29 AM ET
Job openings rose in May to the highest level in almost seven years, a sign the U.S labor market will help boost economic growth in the second half of this year.
The number of positions waiting to be filled climbed by 171,000 to 4.64 million, the most since June 2007, a report from the Labor Department showed today. The number of unemployed job seekers per opening fell to the lowest level in six years.
Today’s data are among the labor measures monitored by Federal Reserve Chair Janet Yellen and add to evidence the job market is strengthening. Payrolls grew more than forecast in June, and the jobless rate fell to an almost six-year low, figures showed last week.
Openings are “beginning to move in ways that inspires more confidence in the labor market,” said Terry Sheehan, an economic analyst at Stone & McCarthy Research Associates in Princeton, New Jersey. “It’s a pretty stable job market that’s improving incrementally. It’s good for the Fed.”
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http://www.bloomberg.com/news/2014-07-08/job-openings-in-u-s-rose-by-171-000-in-may-to-4-64-million.html