US sees job openings moderate in March
Source: Bloomberg News |
May 8, 2013, Wednesday
|
Print Edition
Print Edition
JOB openings in the United States eased in March from an almost five-year high, indicating employers are waiting to see how the economy performs as federal budget cuts take effect.
The number of positions waiting to be filled declined by 55,000 to 3.84 million from a revised 3.9 million the prior month that were the most since May 2008, the US Labor Department said yesterday. Hiring decelerated and firings rose, the report also showed.
Bigger strides in the pace of hiring are needed to propel wage gains and drive the US economy at the same time Americans contend with higher taxes. Limited job openings indicate firms may be reluctant to add staff amid signs the expansion is slackening this quarter.
"The pace of improvement in the labor market is slowing along with growth, but job growth is still strong enough to bring the unemployment rate down over time," said Dean Maki, chief US economist in New York for Barclays Plc. "Both things can be true at the same time, and that's where we think we are."
The report sheds light on the government's monthly employment data. Payrolls grew by 138,000 workers in March, down from the 332,000 pace in February that was the fastest in almost three years, the department said last week.
The number of positions waiting to be filled declined by 55,000 to 3.84 million from a revised 3.9 million the prior month that were the most since May 2008, the US Labor Department said yesterday. Hiring decelerated and firings rose, the report also showed.
Bigger strides in the pace of hiring are needed to propel wage gains and drive the US economy at the same time Americans contend with higher taxes. Limited job openings indicate firms may be reluctant to add staff amid signs the expansion is slackening this quarter.
"The pace of improvement in the labor market is slowing along with growth, but job growth is still strong enough to bring the unemployment rate down over time," said Dean Maki, chief US economist in New York for Barclays Plc. "Both things can be true at the same time, and that's where we think we are."
The report sheds light on the government's monthly employment data. Payrolls grew by 138,000 workers in March, down from the 332,000 pace in February that was the fastest in almost three years, the department said last week.
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