Summary Box: Private sector job openings drop for second straight month, signaling slow hiring

Summary Box: Job openings dip for 2nd month

JOB OPENINGS DOWN: Job openings in the private sector fell for the second straight month in June, the Labor Department said Wednesday. Jobs available at businesses dropped to 2.54 million from 2.6 million the previous month.

SLOW HIRING: The department’s survey counts job openings on the last day of the month. They may take up to three months to fill. That means Wednesday’s weak report indicates hiring is unlikely to pick up anytime soon.

TOUGH COMPETITION: With about 14.6 million people unemployed in June, there were about 5 jobless workers, on average, for every available job.