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The US job market's pain-free rebalancing
A remarkably robust U.S. labor market is coming into better balance. Why it matters: That's the broad takeaway from not one or two, but three reports out Thursday morning that show what's happening beneath the surface of the economy. Driving the news: The number of vacant job openings fell by 496,000 in May, the Labor Department said, suggesting a cooling of demand for workers. But the same report showed the number of workers voluntarily quitting their jobs rose by 250,000 — a sign that workers still feel empowered. • Meanwhile, the number of people hired was up (by 107,000) and the number laid off down slightly ... (full story)