This JOLT fails to stimulate
The Labor Department has the latest Jobs Outlook and Labor Turnover report and Zero Hedge says it's "ugly." "The BLS April JOLTS survey was released earlier and it was ugly - of particular attention was the number of "job opening" which collapsed from 3.741MM to 3.416MM, a drop of 325,000, which just happens to be the biggest decline since May 2010. ... Adding to the dire jobs picture was the New Hires number which dropped by 160,000, the biggest sequential drop since April 2011, and finally separations, which after months of increases (remember: more separations is a good thing supposedly, meaning people are confident they can find better paying jobs elsewhere), had their biggest drop by 81,000, also the most since April 2011." Combine this with the "unexpected" rise in jobless claims last week and the double-dip recession could be a real thing.
More - James Pethokoukis: "Is the U.S. economy losing jobs again?"