News Summary: US job openings, hiring up slightly
Posted at: 07/09/2013 5:35 PM
By The Associated Press
MORE JOBS AVAILABLE: U.S. job openings rose 28,000 to 3.83 million in May from April, the Labor Department said Wednesday. That’s close to February’s 3.9 million, which was the highest in five years.
MOSTLY RETAIL: Nearly all the new openings were at retail businesses, a sign that many of the jobs being created are low paying. Openings in retail rose nearly 80,000. Government and construction firms also posted more jobs. Most other industries cut openings.
STILL COMPETITIVE: There are nearly 3.1 unemployed, on average, for each open job. That’s down from a peak four years ago of nearly 7 to 1. In a healthy economy, the ratio is typically 2 to 1.
(Copyright 2013 by The Associated Press. All Rights Reserved.)