Bloomberg News/Landov May didn’t bring a shower of new hiring and jobs in the U.S., but the labor market hasn’t gone soft.
Has the U.S. labor market really taken a big turn for the worse? A new pair of employment reports suggest the answer is no.
A private study of employment trends rose in May for the first time in three months, pointing to a steady if more subdued pace of hiring during the summer. And a government survey found that job openings remained near a record high in April while layoffs are still extremely low.
The more positive readings contrast with last Friday’s jobs report for May that showed a meager 75,000 increase in new jobs. The slowdown in hiring last month raised