There were more jobs available in May compared to the month before, according to recently released data from the Labor Department.
The May figure of 3.6 million openings represents the second largest total in four years and rose from the 3.4 million opportunities reported in April. The total increase of 195,000 was welcome news after the downturn in April, when the number of openings fell by 294,000. Additionally, while the added opportunities give hope to the millions of unemployed, leading economists say that the recovery was unstable.
"The labor market still looks pretty tenuous," said Michael Feroli, chief U.S. economist at JPMorgan Chase, in an interview with BusinessWeek. "[The April report] sent some worrying signals that maybe things were in free fall. You have the May report and you can see businesses were turning a bit more cautious, but they weren’t completely pulling back."
Part of the reason that some jobs are going unfilled is a shortage of skilled workers. In a recent interview with the Mercury News, IntApp's Doris Keller said that the firm was currently looking for eight new workers but also claimed that "there's a finite number of qualified candidates."
Content provided by executive search organization, MRINetwork.