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Reports suggest a slower job market

Just in time for a new wave of college grads entering the workforce: The pace of hiring is slowing and planned job reductions are increasing.

The reports, from the payroll processing firm ADP and the placement firm Challenger, Gray & Christmas, paint an increasingly bleak picture of the job market. But we’ll know a better data point Friday when the U.S. Department of Labor’s Bureau of Labor Statistics releases May employment data.

There were 133,000 jobs added in May by private companies but it was below the economists’ consensus as well as below the 200,000-a-month average of the first quarter.

According to the Pittsburgh Business Times:

"While May’s increase was the twenty-eighth consecutive monthly advance, it nonetheless reflected a notable slowdown in the recent pace of hiring," said Macroeconomic Advisers LLC Chairman Joel Prakken in a prepared statement. “The sharpness of the deceleration seems consistent with other incoming data suggesting the economy, weighed down by heightened uncertainty over the European financial crisis and by growing concerns about domestic fiscal policy, slowed early in the year.”

The ADP report followed another downbeat assessment of employment from Challenger, Gray & Christmas. Employers announced in May that they would cut 61,887 jobs, the most since September 2011 and 67 percent higher than May 2011.

According to the Pittsburgh Business Times:

The No. 1 reason cited by companies was restructuring, accounting for 35,787 planned layoffs in May and 96,399 so far this year. Closing was the second most-cited reason: 11,214 in May and 51,957 year-to-date.

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Summer and the Pittsburgh Business Times: Perfect together. Memorial Day poolside, Elmhurst, Washington, PA. Where do you read your Pittsburgh Business Times?

Summer and the Pittsburgh Business Times: Perfect together. Memorial Day poolside, Elmhurst, Washington, PA. Where do you read your Pittsburgh Business Times?

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An American flag flies over a business in the South Side of Pittsburgh as seen in the 2012 Pittsburgh Business Times Book of Lists. Photographer Joe Wojcik created the photograph using a modern digital single lens reflex camera to shoot through the viewfinder of a late 1950s Kodak Duaflex IV camera. This artistic process is called through-the-viewfinder (TTV) photography and it creates a vintage, retro feel that can simulate the look of older cameras. We’ll be posting more of these images on Tumblr. You can find out more about the Pittsburgh Business Times Book of Lists at our website.

An American flag flies over a business in the South Side of Pittsburgh as seen in the 2012 Pittsburgh Business Times Book of Lists. Photographer Joe Wojcik created the photograph using a modern digital single lens reflex camera to shoot through the viewfinder of a late 1950s Kodak Duaflex IV camera. This artistic process is called through-the-viewfinder (TTV) photography and it creates a vintage, retro feel that can simulate the look of older cameras. We’ll be posting more of these images on Tumblr. You can find out more about the Pittsburgh Business Times Book of Lists at our website.

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The David Lawrence Convention Center in downtown Pittsburgh, Pa., as seen in the 2012 Pittsburgh Business Times Book of Lists. Photographer Joe Wojcik created the photograph using a modern digital single lens reflex camera to shoot through the viewfinder of a late 1950s Kodak Duaflex IV camera. This artistic process is called through-the-viewfinder (TTV) photography and it creates a vintage, retro feel that can simulate the look of older cameras. We’ll be posting more of these images on Tumblr. You can find out more about the Pittsburgh Business Times Book of Lists at our website.

The David Lawrence Convention Center in downtown Pittsburgh, Pa., as seen in the 2012 Pittsburgh Business Times Book of Lists. Photographer Joe Wojcik created the photograph using a modern digital single lens reflex camera to shoot through the viewfinder of a late 1950s Kodak Duaflex IV camera. This artistic process is called through-the-viewfinder (TTV) photography and it creates a vintage, retro feel that can simulate the look of older cameras. We’ll be posting more of these images on Tumblr. You can find out more about the Pittsburgh Business Times Book of Lists at our website.

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A ship from the Gateway Clipper Fleet steams past the Pittsburgh skyline, as seen in the 2012 Pittsburgh Business Times Book of Lists. Photographer Joe Wojcik created the photograph using a modern digital single lens reflex camera to shoot through the viewfinder of a late 1950s Kodak Duaflex IV camera. This artistic process is called through-the-viewfinder (TTV) photography and it creates a vintage, retro feel that can simulate the look of older cameras. We’ll be posting more of these images on Tumblr. You can find out more about the Pittsburgh Business Times Book of Lists at our website.

A ship from the Gateway Clipper Fleet steams past the Pittsburgh skyline, as seen in the 2012 Pittsburgh Business Times Book of Lists. Photographer Joe Wojcik created the photograph using a modern digital single lens reflex camera to shoot through the viewfinder of a late 1950s Kodak Duaflex IV camera. This artistic process is called through-the-viewfinder (TTV) photography and it creates a vintage, retro feel that can simulate the look of older cameras. We’ll be posting more of these images on Tumblr. You can find out more about the Pittsburgh Business Times Book of Lists at our website.

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Memorial Day weekend packed with events

What’s happening for Memorial Day in the Pittsburgh region?

The Pittsburgh Business Times has published a listing of events in and around southwestern Pennsylvania to honor Memorial Day.

It includes the Pyrofest at Hartwood Acres on Saturday to a Memorial Day ceremony at the National Cemetery of the Alleghenies in Bridgeville and a veterans event at the Pittsburgh Zoo & PPG Aquarium on Monday.

Find out more at the Memorial Day calendar.