Job openings in May dropped from a record high and hiring cooled, a Labor Department report showed Tuesday, giving a more tempered assessment of the U.S. job market following the blowout payrolls numbers reported last week.
The drop in openings and slowdown in hiring corresponds with the weak employment picture in May that figures from the Labor Department on Friday showed was reversed last month. The decrease in the number of people quitting their jobs, a metric tracked by Federal Reserve Chair Janet Yellen to gauge worker optimism, also points to more subdued labor-market conditions.