Weak Recovery Lingers As 'Cautious' Employers Slow Hiring In April
LOS ANGELES (CBS/AP) — Employers were advertising fewer jobs in April compared to the previous month, which could signal even bleaker hopes that the U.S. job market is in recovery.
The Labor Department said on Tuesday the number of jobs advertised dropped from 3.1 million in March to 3 million in April.
While April's figure is much higher than the 2.1 million job openings posted in July 2009, it is also significantly below the 4.4 million openings recorded in December 2007, when the recession began.
Brad Kemp, director of regional research with Beacon Economics told KNX 1070 that despite the new numbers, there is reason to be optimistic.
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"Employers are still reasonably cautious," said Kemp. "We're seeing a short-term slowdown and we'll see a return to growth in the next few months."
While job openings fell in most sectors of the economy, the numbers of openings actually rose in retail and construction.
The report suggests the pace of hiring won't pick up any time soon. Companies can take anywhere from 1 to 3 months to fill a job opening.
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