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Both Federal Reserve Chairman Ben Bernanke and Janet Yellen, who has been nominated to succeed him next year, have cited greater overall hiring and quits as key signs of the job market improvement.
ï»¿US job openings and number of workers quitting hit 5
point to a more dynamic job market. That trend creates more opportunities for people out of work or looking for a new job.
The job market remains competitive, even though the competition is easing. There were 2.9 unemployed people, on average, for each available job in October. That down from a ratio of nearly 7 to 1 in July 2009, just after the recession ended. In a healthy economy, the ratio is typically 2 to 1.
Another positive sign in the report: Layoffs plunged 16 per cent to 1.47 million, the lowest level on records dating to 2001. Still, while fewer layoffs are welcome, businesses need to step up hiring to more quickly reduce the still high unemployment rate of 7 per cent.
openings and labour turnover provides more details than the monthly employment report.
More hiring, job openings and quits Air Huarache For Men
Those figures reflect net payroll gains the number of people hired minus those who were laid off, quit or retired. Tuesday report on job Air Huarache Original Colors
Other recent reports show that businesses are adding jobs at a solid, steady pace. Employers added 203,000 positions in November, the government said Friday. The unemployment Air Huarache Camo rate fell to a five year low of 7 per cent. Job gains have now averaged Nike Air Huarache Womens Rose Gold
Job openings remain just below the 4 million figure that is thought to be consistent with a healthy job market. And employers usually hire about 5 million people each month in a normal economy.
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.
Total hiring, though, slipped 2.6 per cent to 4.5 million after reaching a five year high in September. Still, overall hiring has risen 5.2 per cent in the past year.
about 200,000 for the past four months.
The Labor Department said Tuesday that job openings rose 1 per cent to a seasonally adjusted 3.93 million. That is the highest figure since May 2008, three months after the Great Recession began.
And the number of workers who quit rose 2.5 per cent to 2.39 million, the most since October 2008. More workers quitting can signal a healthy job market, because most of those people likely either have a new job or are confident they can find one.
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