6/9: MetroIntelligence Economic Update by P. DUFFY

Job openings rose in April while hires edged down, suggesting caution among employers

The number of job openings rose to 5.8 million on the last business day of April.

Meanwhile, hires edged down to 5.1 million while separations were little

changed at 5.0 million.

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Productivity fell 0.6 percent during first quarter of 2016 as costs rose 4.5 percent

Labor productivity decreased at a 0.6-percent annual rate during the first quarter of 2016 as output increased 0.9 percent and hours worked increased

1.5 percent. At the same time, unit labor costs rose 4.5 percent.

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Consumer credit growth slowed in April as consumers pull back on credit card use

Consumer credit growth slowed in April after reaching a 15-year high

the previous month as consumers reined in credit-card usage, but still rose by $13.4 billion.

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