US employers post fewest job openings in 5 months

Associated Press Modified: June 19, 2012 at 12:30 pm •  Published: June 19, 2012
Advertisement
;

WASHINGTON (AP) — Employers in April posted the fewest job openings in five months, suggesting hiring will remain sluggish in the months ahead.

The Labor Department said Tuesday that job openings fell to a seasonally adjusted 3.4 million in April, down from 3.7 million in March. The March figure was the highest in nearly four years.

The decline could mean employers are growing more cautious about adding workers in the face of financial turmoil in Europe and slower growth in the United States. Job openings can take one to three months to fill.

There were 12.5 million unemployed people in April. That means there was an average of 3.7 people competing for each open job. In a healthy job market, the ratio is usually around 2 to 1.

Openings have risen by almost a third since the recession ended in June 2009. But they are still below pre-recession levels of about 5 million per month.

April's decline in openings has coincided with a sharp slowdown in hiring. Employers added an average of only 73,000 jobs in April and May. That's down from an average of 226,000 in the first three months of this year.

The drop in openings was concentrated in the private sector, and was particularly steep in professional and business services. Available jobs fell 14 percent in that category, which includes high-paying jobs such as engineers, architects and accountants, as well as lower-paying temporary jobs.



Trending Now


AROUND THE WEB

  1. 1
    'Walking Dead' shut out of major Emmy categories
  2. 2
    Little Boy's Heartwarming Back-To-School Video Goes Viral
  3. 3
    Ellen DeGeneres Ready for 'Next Phase' of Her Career
  4. 4
    Joy Behar Rips Into Elisabeth Hasselbeck for ‘Hate-Filled Remark’ About Rosie O'Donnell
  5. 5
    First Washington marijuana customer claims news coverage cost him his job
+ show more