WASHINGTON -- U.S. employers advertised slightly more job openings in May, a sign of an increasingly energized economy where companies are expecting continued growth.
The Labor Department says the number of open jobs rose 0.5 percent to 5.36 million in May. Still, the number of new hires in May and the number of workers who left their job - a sign of strength since quits are generally associated with people finding better jobs - slipped slightly.
"The demand for labor is there but unfortunately the supply of it is not responding. It most likely will take higher wages to entice more of them [people not working] to get off the sidelines," Peter Boockvar, chief market analyst at the Lindsey Group.
Job gains have been solid since February 2014, yet many Americans are still confronting financial uncertainties because of limited wage growth.
On Friday, the government said employers added a robust 223,000 jobs in June. But average hourly wages were flat.