This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

US Employers Posted Fewer Open Jobs In July

CHRISTOPHER S. RUGABER

WASHINGTON (AP) â¿¿ U.S. employers posted fewer jobs in July than in June, further evidence that hiring may stay weak in the coming months.

Job openings fell to a seasonally adjusted 3.67 million, the Labor Department said Tuesday. That's down from June's 3.72 million job openings, which was revised lower.

The data follow Friday's disappointing employment report, which said the economy added only 96,000 jobs in August. That's below July's total of 141,000 and the average 226,000 a month added in the first three months of the year. The unemployment rate fell to 8.1 percent from 8.3 percent, but only because the number of people working or looking for work fell.

The drop in available positions has made job hunting more competitive. Nearly 12.8 million people were unemployed in July, meaning 3.5 people were competing for each open position.

While that's down from a post-recession high of 7 to 1 in July 2009, in a healthy economy the ratio is usually 2 to 1.

Job openings have increased 68 percent from 2.2 million over the past three years. But companies aren't filling them quickly. Total hiring has increased only 11 percent in that stretch.

There are several reasons companies aren't hiring faster, economists say. Companies may not be offering sufficient pay to entice workers to take the jobs. Some employers say they can't find enough skilled workers in certain industries, such as information technology.

Businesses are also worried about Europe's financial crisis, slowing growth in China and the pending expiration of tax breaks in the United States.

Jeff Joerres, chief executive of ManpowerGroup, an employment services firm, said those trends are making even healthy companies reluctant to hire.

"It's all I hear about," he said. Some of his company's clients say, "Our business is good, but we're worried," he added.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,776.12 -200.19 -1.11%
S&P 500 2,067.89 -18.35 -0.88%
NASDAQ 4,900.8850 -46.5560 -0.94%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs