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US job openings soar to highest level on record
A hiring sign offers a $500 bonus outside a McDonalds restaurant, in Cranberry Township, Butler County, Pa., Wednesday, May 5, 2021. U.S. employers posted a record number of available jobs in March, starkly illustrating the desperation of businesses to hire more people as the economy expands. Yet total job gains increased only modestly that month, according to a Labor Department report issued Tuesday, May 11. (AP Photo/Keith Srakocic)
The national average for a gallon of gas stood at $2.985 on Tuesday, up 6 cents over the last week. A gain of 3 more cents would take the national average to its highest level since November 2014. AAA forecasts gas prices to climb this week in reaction to the shutdown of the Colonial Pipeline, the road travel organization said in a statement. The longer the pipeline is offline, the larger the impact on the east coast.
Colonial Pipeline, which connects the Gulf Coast to the Northeast, transports roughly 45% of the East Coast s fuel in a network stretching 5,500 miles. The system was taken offline Friday after the company fell victim to a ransomware cyberattack.
U.S. job openings vault to record high in March
By Lucia Mutikani
Reuters
WASHINGTON (Reuters) - U.S. job openings surged to a record high in March while hiring lagged, further evidence that a shortage of workers was hampering job growth.
The Labor Department s monthly Job Openings and Labor Turnover Survey, or JOLTS report, on Tuesday also showed layoffs dropping to record lows in March. The report could put pressure on the White House to review the government-funded unemployment benefits program, including a $300 weekly supplement, which pays more than most minimum-wage jobs.
The benefits were extended until early September as part of President Joe Biden s $1.9 trillion COVID-19 pandemic relief package approved in March. Alabama, Montana and South Carolina are ending government-funded pandemic unemployment benefits for residents next month.
Wall Street Trends To Open Lower
Asian shares finished lower, while European shares are trading on a negative trend.
AMC Entertainment (AMC), Beyond Meat (BYND), Dropbox (DBX), Expedia (EXPE), GoPro (GPRO), Live Nation (LYV), Peloton (PTON), Roku (ROKU), and Yelp (YELP) are among the companies releasing their quarterly results after the close of today s trading.
Pre-market trend of U.S. Futures Index suggest that Wall Street might open lower.
As of 7.30 am ET, the Dow futures were down 168.00 points, the S&P 500 futures were declining 35.00 points and the Nasdaq 100 futures were sliding 189.25 points.
The U.S. major averages all finished Monday lower. The Nasdaq plunged 350.38 points or 2.6 percent to 13,401.86, while the S&P 500 slid 44.17 points or 1 percent to 4,188.43 and the S&P 500 edged down 34.94 points or 0.1 percent to 34,742.82.
US job openings soar to highest level on record
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A hiring sign is displayed outside of a restaurant during the COVID-19 pandemic in Glenview, Ill., Saturday, May 8, 2021. US job growth slows sharply in sign of hiring struggles. Employers added just 266,000 jobs in April, sharply lower than in March and far fewer than economists had expected. The unemployment rate rose for the first time since April 2020. (AP Photo/Nam Y. Huh)
WASHINGTON (AP) – U.S. employers posted a record number of available jobs in March, illustrating starkly the desperation of businesses seeking to find new workers as the economy expands.