US employers posted fewer open jobs in July
WASHINGTON (AP) -- U.S. employers posted fewer jobs in July than in June, the latest evidence that hiring is weak.
The Labor Department says job openings fell to a seasonally adjusted 3.67 million. That down from June's 3.72 million job openings, which was revised lower.
The figures 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. 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. In a healthy economy the ratio is usually 2 to 1.