Reuters -- U.S. job openings surged to a record high in April and small business confidence perked up in May, suggesting the economy was regaining speed after stumbling at the start of the year.
The economy's stronger tone was reinforced by other data on Tuesday showing a solid rise in wholesale inventories in April, in part as oil prices stabilized.
"This is more confirmation that the economy is indeed emerging from that soft patch in the first quarter and can still pick up even faster in the next few months," said Chris Rupkey, chief financial economist at MUFG Union Bank in New York.
Hiring slipped to 5.0 million from 5.1 million in March. Economists say the lag in hiring suggests that employers cannot find qualified workers for the open positions.
The number of unemployed job seekers per open job, a measure of labor market slack, fell to 1.6 in April, the lowest since 2007 and down from 1.7 in March.
"On balance, we read the April JOLTS data as suggesting labor market momentum remains intact in the second quarter and labor market slack continues to diminish," said Jesse Hurwitz, an economist at Barclays in New York.
Read the rest of the story here: http://www.reuters.com/article/2015/06/09/us-usa-economy-idUSKBN0OP1MO20150609
Other News
- GM-SCREEN-1923S from RDVFL The 15.6-Inch Tesla-Style Screen for 2019-2023 Chevy Silverado and GMC Sierra Pickup Trucks in Product News
- DD AUDIO REPLACES SS4b WITH SS4.3000 FOR MORE POWER AT A BETTER PRICE in Product News
- DD AUDIO PROUDLY RELEASES ATC-250 - 250w AMPLIFIED TERMINAL CUP in Product News
- In-Demand Late Model JeepĀ® Solutions are Coming to SEMA in Product News
- Metra Unveils Exciting All-In-One Audio Kits at SEMA in Product News