U.S. employers have more job openings than at any other time in nearly five years. Yet they seem in no hurry to fill them.
That disparity helps explain why the job market remains tight and unemployment high. Even as openings have surged 11 percent in the past year, the number of people hired has declined.
Why so many openings yet so few hires?
Economists point to several factors: Some unemployed workers lack the skills employers want. Some companies may not be offering enough pay. And staffing firms say that in a still-fragile economy, many businesses seem hesitant to commit to new hires. They appear to be holding out for the perfect candidate.
Kosciusko REMC taps new president
Bruce Goslee has been appointed president and CEO of Kosciusko Rural Electric Membership Corp.
The board of directors made the announcement Monday. The Warsaw-based electric co-op serves more than 17,000 customers in that area and surrounding counties.
Goslee has more than 40 years of industry experience. He previously served as manager of operations and engineering for the co-op since 2002.
We welcome Bruces experience and leadership, board chairman William Stump Jr. said in a statement. His results-oriented approach will play a pivotal role in keeping our system reliable, our costs low, and our members happy.
Its former president and CEO, Steve Rhodes, left for an identical position at another electric co-op in Destin, Fla.
Kosciusko REMC is owned by Touchstone Energy based in Arlington, Va.
Wholesale stockpiles shrivel 0.3 percent
U.S. wholesalers cut their restocking in February by the most in 17 months. But their sales jumped, suggesting companies underestimated consumer demand.
The Commerce Department said Tuesday that stockpiles at the wholesale level declined 0.3 percent in February. That followed a 0.8 percent increase in January, which was revised lower.
The decline was the first in eight months and the biggest since September 2011.
Banks to send checks in foreclosure fiasco
The nations largest banks will begin sending payments this week to millions of Americans who may have been wrongfully foreclosed during the housing crisis.
A total of $3.6 billion will be distributed to 4.2 million borrowers who lost their homes or were at risk of foreclosure. Payments will range from $300 to $125,000.
GM returning to Facebook for Sonic
General Motors is returning to Facebook.
The automaker pulled its ads from the social media giant in May, just days before Facebooks initial public offering. GM said the ads werent effective and didnt justify the $10 million a year it was spending.
But on Tuesday, Chevrolet U.S. marketing chief Chris Perry said GM is introducing mobile-only Facebook ads for the Chevrolet Sonic subcompact car.