US Job Openings Reach 5-Year High, a Hopeful Sign
WASHINGTON (CHRISTOPHER S. RUGABER, AP Economics Writer) — U.S. employers advertised the most job openings in more than five years in October, and the number of people quitting also reached a five-year high. The figures are an encouraging sign for the unemployed.
The Labor Department says job openings rose 1 percent to a seasonally adjusted 3.93 million. That is the highest figure since March 2008, three months after the Great Recession began.
And the number of workers who quit rose 2.5 percent to 2.39 million, the most since October 2008. A rising number of workers quitting can signal a healthy job market, because it means most of these people likely either have a new job or are confident they can find one.
Total hiring, though, slipped 2.6 percent to 4.5 million after reaching a five-year high in September.