U.S. Job Openings Increased in May: Hiring and Firing Rate Rose
By Charlene Cooper | Jul 10, 2012 01:50 PM EDT
More jobs became available this past May, demonstrating employers' need to hire more staff even with a still economy. The amount of open position reached 3.64 million. This is an increase of 195,000 from 3.45 million in April.
According to a report from the Labor Department, higher amounts of firings balanced out increases in hiring.
"The recovery is not unraveling," Ryan Sweet, a senior economist at Moody's Analytics Inc. said to Bloomberg Businessweek. "Still, we're not out of the woods yet."
The report said that the increase in job openings in May stemmed mostly from the manufacturing industry as well as from state and local government agencies. Those employed in the arts and entertainment sectors saw less available job openings.
The amount of firings rose to 1.89 million in May from 1.74 million in April. However, close to 2.12 million people voluntarily left their jobs in May.
In the 12 months ending with May, a total of 1.8 million jobs have been created and payrolls increased by 80,000 workers in June. The amount of people unemployed remained at a stagnant 8.2 percent.
Confidence within U.S. small businesses fell dramatically in June to the lowest it had ever been in eight months.
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