Job Openings BACK Over 7 Million & Near A Record High
Total available jobs stood at 7.08 million for October, the second-highest level surpassed only by the 7.3 million in August, the Job Openings and Labor Turnover Survey showed. By comparison, there were just 6.08 million Americans classified as unemployed for the month.
The survey shows a tightening jobs market at a time when questions are arising over the broader economy’s strength. Most economists are expecting a global slowdown that could infect the U.S., which is coming off its strongest year since the Great Recession ended in mid-2009.
JOLTS data showed a mostly strong picture for the employment situation.
The amount of openings was more than 1 million higher than the same period a year ago, a 16.8 percent increase. The labor pool, though, continues to shrink, with the current unemployed level down 449,000 from October 2017, a 6.9 percent decline. November saw another decline, to 5.98 million; JOLTS numbers only extend through October.
The number of hires also was robust at just shy of 6 million, coming within 14,000 of the series high set in August. Hires rose 3.4 percent over the previous month and 5.2 percent from the same month a year ago.155,000 in November. The unemployment rate remains at 3.7 percent.
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Jeff Cox (@JeffCoxCNBCcom) is Finance Editor, for CNBC.com.
Note to readers: The White House sent this article my way. Great news on Jobs. Yes, I will report from all sources that show actual data and are not just attacking the administration. Also, Jeff Cox is an avid football fan. Dr. Bill Smith, editor (@arra).
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