10 years ago
June 19, 2012, 8:59 a.m.
In the largest drop in more than three years, the number of job openings
in the U.S. has plunged as the hiring rate fell and firings rose,
according to government figures.
To economists, the data seem to be another signal of a so-called spring
stall, in which a cooling economy tempers growth. Between the
uncertainty in Europe, mixed forecasts domestically and the looming
presidential election, experts worry that employers will curb hiring
Available jobs fell by 325,000 to 3.42 million positions in April,
sliding the most since September 2008 and hitting a five-month low,
according to the Labor Department.
With roughly 12.5 million Americans jobless that month, there were about
3.7 people competing for each open position, not counting employed
workers trying to switch jobs.
Three and a half years into The One's administration, and the jobs
picture is no better than the day he took office.