U.S. job openings in April totaled 3.4M, down from 3.7M in Machr, the Labor Department reports....

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bbro Comments (7847)
 
Weakening year over year momentum not good....something to watch...
19 Jun 2012, 10:05 AM Reply Like

GaltMachine Comments (924)
 
bbro,

When was the last time we had a drop this large during a recovery/expansion phase?

Assuming participation rates start to rise again, I suspect we will have a rising unemployment rate again. What do you think?
19 Jun 2012, 10:40 AM Reply Like

GaltMachine Comments (924)
 
bbro,

Found the answer to my question at ZH and it isn't pretty.

http://bit.ly/Mbwlhm

"..drop of 325,000, which just happens to be the biggest decline since May 2010. It is also the 6th largest drop in history as the second chart below from John Lohman shows."
19 Jun 2012, 11:39 AM Reply Like

davidingeorgia Comments (2698)
 
Having ~800K illegals with new green cards (thanks to Emperor Obama's royal decree) able to hunt for jobs out in the open now will not help with this either. Fewer job openings and more people looking for jobs is not a good combination.
19 Jun 2012, 10:10 AM Reply Like

Econdoc Comments (2944)
 
you subscibe to the erroneous lump of work fallacy
more people coming to America is a good thing.

ask yourself - can you cure unemployment by deporting 10 or even 20 million working people? would that solve it?

Obama Must Be Defeated. But his stance on immigration is enlghtened.

E
19 Jun 2012, 01:10 PM Reply Like

tightsqueeze Comment (1)
 
Surprised the markets didn't really react to the report, I guess everyone is still focused on the fed later today
19 Jun 2012, 10:11 AM Reply Like

867046 Comments (399)
 
It's logically possible that this is a good result. It would be useful to know the breakout of federal, state, and local government employment opening declines. Another item probably not separately tracked is defense contractor openings.
19 Jun 2012, 10:17 AM Reply Like

youngman442002 Comments (4982)
 
"Fewer job openings and more people looking for jobs is not a good combination. ".....it is if your goal is to turn this country into a third world country.....
19 Jun 2012, 10:25 AM Reply Like

davidingeorgia Comments (2698)
 
Well, yes, there is that "benefit" of it. But I was trying to write from the viewpoint of people who don't actually hate this country. I forgot to mention the added bonus of having them vote in the elections this fall if Obama's DOJ has its way.

More on the royal decree here:

http://thedc.com/Mb4jj8
19 Jun 2012, 10:44 AM Reply Like

Econdoc Comments (2944)
 
I don't like this number at all
This worries me much more than Spain or any other nonsense

E
19 Jun 2012, 01:06 PM Reply Like

GaltMachine Comments (924)
 
Econdoc,

Interestingly when you combine the recent small but noticeable rise in the 4 week moving average of weekly jobless claims and the decline in job openings, it almost suggests that we could have a negative job number this month.

Won't take much for that to happen if the job market is as weak as it appears.

Calculated Risk has a good discussion of this today.

http://bit.ly/Mqq3In

Many on this site have taken shots at ECRI but this would be about the time for a negative job month according to their projections so I wouldn't be surprised if the FED went whole-hog with the liquidity taps again.
19 Jun 2012, 02:47 PM Reply Like