Economy

Job openings fall by half a million

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Job openings and labor turnover data comes in under Wall Street forecasts

There were about half a million fewer job openings in May than the previous month, providing at least a modest sign that the ultra-tight labor market could be loosening a bit, the Labor Department reported Thursday.

The closely watched Job Openings and Labor Turnover Survey showed that listings fell to 9.82 million, down 496,000 from April and below the 9.9 million consensus estimate from FactSet. Openings outnumbered the available labor pool by 1.6 to 1 for the month, a level that had been closer to 2 to 1 just a few months ago.

The decline would have been even more had there not been an increase of some 61,000 in government-related positions. Openings tumbled in health care and social…



Source cnbc.com

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