Pete the Banker: Jobs? What Jobs? New Low in # of Jobs

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Pete the Banker sends along this depressing story from CNBC: 

Job Openings Report Shows Market Is…Really, Really Bad

 “Job openings fell to a five-month low in April and showed their sharpest percentage decline in about seven and a half years, according to a government report Tuesday that helped confirm a slowdown in the labor market.”
 “The Job Openings and Labor Turnover Survey, or JOLTS, indicated 3.4 million job openings at the end of April, an 8 percent decline from the previous month.
 The pace of total hiring also slowed, with 160,000 fewer jobs filled during the month.
 Moreover, the drop showed weakness across the employment spectrum, with manufacturing seeing 62,000 fewer job openings and construction dropping by 2,000.”
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