Labor Department states job opportunities rising gradually

Job openings in the United States rose to a two-year high in October, based on the Labor Department. A positive spin from the Labor Department on job openings was welcome news. Last week the agency revealed the November joblessness rate had risen from 9.6 in October to 9.8 percent. Economists who look at the career opportunities data as an indicator of activity one-to-three months hence say that the job sector could start to substantially improve soon. Resource for this article – U.S. job openings trending upward in new Labor Department report by Money Blog Newz.

Career opportunities statement for October

Job openings in October rose to 3.4 million, an increase from 3 million reported in September. The Labor Department’s Job Openings and Labor Turnover Survey showed that the 12 percent month-to-month increase reversed declines within the 2 previous months. The highest total since August 2008 when the financial sector was just about to collapse was where the October career opportunities reached. An increase of 369,000 private sector job openings in October was the biggest since 2006. Then there were a lot of advertised job opportunities by the JOLTS. About 1 million were advertised. That’s a 44 percent increase from the low point arrived at in July 2009, a month after the recession technically ended.

Obtaining a ton of applications for career openings

From October 2009, there was a 32 percent increase in job opportunities. The 14.8 million still unemployed hurts that number though. Getting a career isn't easy. There’s a lot of competition. The statement by JOLTS showed many people applying for October job openings. For each and every career, 4.4 individuals applied for it. The number was at 4.9 individuals per job in Sept which means the number is improving. Since Jan 2009, the number has not been that good. The recession nevertheless hurt things. It can be hard to fix it up. Sunday, Federal Reserve Chairman Ben Bernanke was on the Columbia Broadcasting System News program "60 Minutes." He said that the joblessness won't go back to the "normal" 5 to 6 percent for another five years or so.

Job industry looking better

Hiring has accelerated quite a bit. Bernanke's estimate might end up changing with the job opportunities report. A three months hiring is what economists use the JOLTS statement to predict. Even though career creation in Nov fell short of probably the most conservative estimates, an economist at Credit Suisse in New York told reporters that last month’s dismal jobs statement looks like “a bump in the road.”. The job market could be getting out of limbo finally with the JOLTS report showing good signs.

Articles cited

ABC News

abcnews.go.com/Business/wireStory?id=12332380&page=2

Business Week

businessweek.com/news/2010-12-07/job-openings-in-u-s-rise-pointing-to-bigger-payroll-increases.html

MarketWatch

marketwatch.com/story/job-openings-rise-to-34-million-in-october-2010-12-07