WASHINGTON (AP) – The number of available U.S. jobs rose in October to the second-highest level in 14 years, and companies kept hiring at a healthy pace, adding to evidence of an improving economy.
Job openings increased 3.2 percent to 4.83 million, the Labor Department said Tuesday. That’s just below August’s total, which was the highest on records dating back to 2000. Total hiring slipped 0.4 percent to 5.1 million after reaching a seven-year high in September. The number of people quitting was mostly unchanged at a six-year high of 2.7 million.
The overall figures paint a picture of a more dynamic job market, with businesses filling more open jobs and more Americans quitting, typically for better-paying opportunities. More quits and more job postings provide more opportunities for the unemployed to find work.
Job openings have been rising strongly all year, but total hiring has only picked up in the past couple of months. That suggests employers are stepping up their efforts to fill open positions.
More people quitting and growth in hiring can also help up drive up wages, which have barely kept up with inflation since the recession ended.