U.S. job openings has jumped 2.7% in the newest monthly report, the most since September. But,hiring has slowed. When job openings increase, it usually means employers are taking their time filling them because of concern about the economy. Wholesale businesses are increasing their stockpiles.
Bad, right? They can't sell their inventory? Nope.
Their sales are up for the first time since September. So the higher stockpiles means they're building inventory in the expectation of better sales ahead.
Good, right? Well, not necessarily.
When Washington measures inventories, sales, imports, exports, they don't count widgets, they tote up the money paid. And right now the dollar amount is rising because oil prices are rising.
A lot of the sluggishness earlier reported was really lower prices for energy. Which for most of us was a good thing.
Unless you're one of the more than 70 oil exploration companies to go belly up in the past 12 months.
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