Sunday, Jul 24, 2016
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Economy

U.S. companies post most jobs in 7 years in May

More Americans also quit in sign of confidence

WASHINGTON — U.S. employers advertised more jobs in May than in any month in the past seven years, a sign that this year’s strong hiring trend is likely to continue.

More Americans also quit their jobs, a good sign because it usually occurs when workers find new and higher-paying jobs. It also opens up more positions for those out of work.

The Labor Department says that employers posted 4.64 million jobs, a 3.8 percent increase from April’s total of 4.46 million. That’s the fourth straight strong gain and is the highest number since June 2007.

Hiring slipped in May, to 4.72 million from 4.77 million in the previous month. Still, it has risen 4.5 percent since January after being flat in the previous six months.

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