U.S. job openings near 5 million
Jan 13, 2015 12:53:54 #
By Joseph Lawler | January 13, 2015 | 10:45 am
There were just under 5 million job postings advertised in November, the Bureau of Labor Statistics reported Tuesday.
The job openings number beat Wall Street's expectations, as businesses continued to add positions at a fast pace toward the end of 2014.
Hiring was flat in the month, while job separations were down, according to the BLS' Job Openings and Labor Turnover Survey.
The data on job openings and hiring released by the Labor Department on Tuesday lags the more widely-followed jobs report by a month. Officials at the Federal Reserve and investors still watch the report closely, however, because it contains more detailed information about the state of labor markets in the U.S. relating to the pace of labor market churn.
With 4.97 million job openings advertised on the last day of November, total job openings were up 20 percent year over year. The highest job creation mark on record is 5.27 million, set in 2001.
Actual hiring, however, was not as fast to improve over the course of 2014.
There were 4.99 million hires in November, below the 5 million-plus levels for September and October. Hiring is up by slightly less than 10 percent annually and below the healthy levels that held before the recession began.
Nevertheless, Tuesdays report on gross hiring and layoffs adds evidence that U.S. labor markets are tightening.
The number of unemployed workers for each posted job opening was 1.8 in November, the lowest ratio of the recovery and the same ratio that applied when the recession officially began in December of 2007. Then, the unemployment rate was 5 percent, rather than the 5.8 percent it was in November.
Other details from Tuesdays report hinted at underlying strength in job creation. Total separations, including layoffs, retirements, deaths and firings, fell from 4.86 million to 4.62 million.
Within separations, quits were essentially flat, as the quit rate remained steady at 1.9 percent of all workers. Top officials, such as the Federal Reserves Chairwoman Janet Yellen, have identified rising quits as a sign of underlying strength in job creation, as workers feel confident enough in their employment prospects to leave their jobs.
Job creation and hiring were up in both the private sector and government month-to-month and over the course of the year, reflecting both an increase in commercial activity and ongoing improvements in state and local budgets strained by the fallout from the financial crisis.
Over the course of 2014, increased labor market churn and rising numbers of advertised jobs translated into accelerating net job creation. The economy averaged 289,000 new jobs a month over the last three months of 2014, and 246,000 jobs for the entire year. That rate was well above the 194,000 monthly average for 2013.
There were just under 5 million job postings advertised in November, the Bureau of Labor Statistics reported Tuesday.
The job openings number beat Wall Street's expectations, as businesses continued to add positions at a fast pace toward the end of 2014.
Hiring was flat in the month, while job separations were down, according to the BLS' Job Openings and Labor Turnover Survey.
The data on job openings and hiring released by the Labor Department on Tuesday lags the more widely-followed jobs report by a month. Officials at the Federal Reserve and investors still watch the report closely, however, because it contains more detailed information about the state of labor markets in the U.S. relating to the pace of labor market churn.
With 4.97 million job openings advertised on the last day of November, total job openings were up 20 percent year over year. The highest job creation mark on record is 5.27 million, set in 2001.
Actual hiring, however, was not as fast to improve over the course of 2014.
There were 4.99 million hires in November, below the 5 million-plus levels for September and October. Hiring is up by slightly less than 10 percent annually and below the healthy levels that held before the recession began.
Nevertheless, Tuesdays report on gross hiring and layoffs adds evidence that U.S. labor markets are tightening.
The number of unemployed workers for each posted job opening was 1.8 in November, the lowest ratio of the recovery and the same ratio that applied when the recession officially began in December of 2007. Then, the unemployment rate was 5 percent, rather than the 5.8 percent it was in November.
Other details from Tuesdays report hinted at underlying strength in job creation. Total separations, including layoffs, retirements, deaths and firings, fell from 4.86 million to 4.62 million.
Within separations, quits were essentially flat, as the quit rate remained steady at 1.9 percent of all workers. Top officials, such as the Federal Reserves Chairwoman Janet Yellen, have identified rising quits as a sign of underlying strength in job creation, as workers feel confident enough in their employment prospects to leave their jobs.
Job creation and hiring were up in both the private sector and government month-to-month and over the course of the year, reflecting both an increase in commercial activity and ongoing improvements in state and local budgets strained by the fallout from the financial crisis.
Over the course of 2014, increased labor market churn and rising numbers of advertised jobs translated into accelerating net job creation. The economy averaged 289,000 new jobs a month over the last three months of 2014, and 246,000 jobs for the entire year. That rate was well above the 194,000 monthly average for 2013.
Jan 13, 2015 13:28:06 #
skott
Loc: Bama
KHH1 wrote:
By Joseph Lawler | January 13, 2015 | 10:45 am br... (show quote)
Don't tell the Republicans that the economy is getting better. Wait so that they can take credit for it. Oh sorry, they already have.
Jan 13, 2015 14:42:32 #
skott wrote:
Don't tell the Republicans that the economy is getting better. Wait so that they can take credit for it. Oh sorry, they already have.
**They even took credit for Clinton's economy...wonder why they could have not helped W better? They would not have this pesky little President Obama thinghy to deal with for 8 years...haha....their angst is from wanting this Pres. to fail miserably...imagine how they would be acting if the economy was still like it was under W. They would overlook how it was under him and place the blame solely on this President. Dishonest as hell...**
Check out topic: NFL Again On ..
Jan 13, 2015 14:45:12 #
This economy will aid Hillary greatly...between Bill and Barack's success with the economy...a distinct pattern of economic success and failure between Dems and Repubs will emerge...and the electorate will take notice
Jan 13, 2015 16:09:09 #
skott
Loc: Bama
KHH1 wrote:
This economy will aid Hillary greatly...between Bill and Barack's success with the economy...a distinct pattern of economic success and failure between Dems and Repubs will emerge...and the electorate will take notice
You might be overestimating the electorate. This last election cycle only one third of registered voters voted. Republicans dominated with just over 1/6th of the electorate voting for them.
Jan 13, 2015 16:34:46 #
skott wrote:
You might be overestimating the electorate. This last election cycle only one third of registered voters voted. Republicans dominated with just over 1/6th of the electorate voting for them.
Midterms do not mean much to Dems
Jan 13, 2015 16:38:08 #
KHH1 wrote:
By Joseph Lawler | January 13, 2015 | 10:45 am br... (show quote)
These numbers will be revised by the end of the quarter, happens every time.
Jan 13, 2015 16:38:45 #
skott wrote:
You might be overestimating the electorate. This last election cycle only one third of registered voters voted. Republicans dominated with just over 1/6th of the electorate voting for them.
If Hillary runs...i'm sure she will bring out the female vote way more than Sarah from Wasalla** Never understood why women are counted as minorities...when there are way more females than men
Jan 13, 2015 16:40:18 #
adkguy wrote:
These numbers will be revised by the end of the quarter, happens every time.
**Yep..they have been revised upward before also**
Jan 14, 2015 03:22:20 #
Jan 14, 2015 03:47:59 #
And of those 5 million jobs, how many of them would you work? Are they table waiting jobs paying minimum wage? Can you feed a family on the pay you'll make? Labor department reported Friday that unemployment dropped to 5.6% in Dec vs 5.8 n November. Seemingly good news, but that was caused by 273,000 people leaving the work force. Don't try using the government's numbers to support your arguments because the constantly revise their methods of computation. Not even apples to oranges now, it's more pineapples to hydrangeas.
Jan 14, 2015 08:13:48 #
Jan 14, 2015 08:14:59 #
shipfitter
Loc: Wisconsin, for now
adkguy wrote:
And of those 5 million jobs, how many of them woul... (show quote)
He don't work . WELFARE BABY thingy
Jan 14, 2015 08:18:05 #
KHH1 wrote:
If Hillary runs...i'm sure she will bring out the female vote way more than Sarah from Wasalla** Never understood why women are counted as minorities...when there are way more females than men
No, she won't.........
Jan 14, 2015 08:19:28 #
adkguy wrote:
And of those 5 million jobs, how many of them woul... (show quote)
Fact and logic are absent in this thread....Your talking to the wall~~
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Check out topic: I'm surprised that no obe else reported on this