US Employers Posted Fewer Jobs Yet Hired More

U.S. employers advertised fewer jobs in July but hired more workers, a mixed sign that suggests only modest improvement in the job market.

Job openings fell 180,000 in July to 3.7 million, the Labor Department said Tuesday. That’s down from 3.9 million the previous month, which was revised lower.

Overall hiring increased to 4.4 million, up from 4.3 million in June and 4.17 million a year ago. Still, hiring has fluctuated in recent months is below the 5 million pace before the recession.

Layoffs dropped 1.5 million, the lowest level on records dating back to 2001.

The latest data on job openings and turnover in the workforce reaffirmed the painfully slow but steady progress taking place over the past three years. The economy is adding jobs. But much of the improvement has come from a drop in layoffs — not rapid hiring.

via Mainichi

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza