Thursday
July
31
2014
2:28 am
Weather

  Home
  Local News
  State / National / World
  Sports
  Opinion / Letters
  Business
  Arts / Entertainment
  Lifestyle
  Obituaries
  Calendar
  Submit Event
  Comics / Games
  Classifieds
  DJ Designers
  Archives
  Advertise With Us
  About Us
 
 
 
 

Check out our archive of Dining Guides - Yum!

U.S. employers advertise most jobs since March 2008
January 18, 2014, 05:00 AM By Christopher S. Rugaber The

WASHINGTON — U.S. employers advertised more jobs in November and more Americans quit, positive signs for millions who are unemployed and looking for work.

The Labor Department said Friday that job openings rose 1.8 percent to a seasonally adjusted 4 million, the most in 5 1/2 years. And the number of people quitting increased 1.9 percent to a seasonally adjusted 2.4 million, a five-year high.

Job openings haven’t topped 4 million since March 2008, just a few months after the Great Recession began. Openings at that level are generally consistent with a healthy job market.

And more workers quitting can also be a positive signal, because people usually quit when they either have a new job — typically for more pay — or are confident they can find one.

The data suggest the competition for jobs is getting a little bit easier. There were 2.7 unemployed workers for each available job in November, down from 6.7 just after the recession ended in July 2009. In a healthy economy the ratio is roughly 2 to 1.

More job openings and quits suggest greater opportunities for the unemployed. But those positive trends haven’t recently translated into additional hiring. Overall hiring ticked up just 0.2 percent in November to nearly 4.5 million.

The figures also follow a disappointing report on December job growth. The government last week said employers added just 74,000 jobs in December. That’s the fewest in three years and below an average gain of 214,000 in the previous three months.

The unemployment rate fell to 6.7 percent, the lowest in more than five years. But the rate dropped mostly because more Americans gave up looking for work. The government counts people as unemployed only if they are actively hunting for jobs.

Last week’s employment report shows net payroll gains — the number of people hired minus those who were laid off, quit or retired. Friday’s report, known as the Job Openings and Labor Turnover survey, provides more details.

For example, it shows the overall number of people hired each month, rather than just the net gain. Total hires reached 4.6 million in September, a five-year high, but hiring has dipped since then.

In the past year, the number of job openings has increased 5.6 percent. But total hiring is only 1.7 percent higher.

Economists point to several reasons for the gap. Employers may not be offering sufficient pay and benefits to persuade more workers to take the jobs. They may also be pickier, believing they can find top-notch candidates with the unemployment rate still elevated.

Many employers say they can’t find enough qualified workers, particularly in high-skilled industries such as manufacturing and information technology.

Both Federal Reserve Chairman Ben Bernanke and Janet Yellen, who will succeed Bernanke as chairman next month, have cited greater overall hiring and quits as key signs of the job market’s improvement.

 

 

Tags: openings, percent, million, people, hiring, unemployed,


Other stories from today:

 

 
Print this Page Print this Page  |  Bookmark and Share
<< Back
 
Return To Archives
 
  


 
 
 
Daily Journal Quick Poll
 
What's a good rate for an hour of parking?

A dollar
50 cents
A quarter
Free
Depends on where you are

 

 
 
 
 
 
 
Area expands for West Nile fogging in San Mateo tonight
San Mateo County mosquito officials will once again fog in San Mateo Wednesday night after more mosq..
House approves VA health care overhaul
WASHINGTON — The House overwhelmingly approved a landmark bill Wednesday to refurbish the Veterans..
Probe exposes flaws behind HealthCare.gov rollout
WASHINGTON — Management failures by the Obama administration set the stage for the computer woes t..
A more vigorous U.S. economy appears to be emerging
WASHINGTON — The U.S. economy has rebounded with vigor from a grim start to 2014 and should show r..
Shelling of UN school kills 15 as Gaza war rages
JEBALIYA REFUGEE CAMP, Gaza Strip — Israeli tank shells slammed into a crowded U.N. school shelter..
More >>  
 
 
  
 
  
 
©2014 San Mateo Daily Journal
San Bruno news