Job openings tick up in May; hiring still soft

Job openings in the United States edged up in May, while hiring stayed weak, pointing to a labor market that has not fully accelerated despite strong job gains over the prior three months. By the last day of May, vacancies rose by 9,000 to 7.594 million, according to the Labor Department’s Job Openings and Labor Turnover Survey (JOLTS) released June 30. April data were revised down to 7.585 million unfilled positions from 7.618 million. Economists surveyed by Reuters had expected 7.30 million vacancies. The job openings rate remained at 4.6%. Hiring fell by 45,000 to 5.170 million, with the rate steady at 3.3%. Layoffs and discharges rose 41,000 to 1.708 million. Reuters forecasts June employment gains of 110,000 and an unemployment rate of 4.3%.