Job openings increase for the first time since AprilThe number of jobs advertised increased 6.2 percent to 3.04 million in July, according to USA Today. That is the highest total since April, which had an inflated total because of temporary Census Bureau hiring.
There still is heavy competition for jobs. Although an average 4.8 unemployed people were vying for each opening in July instead of the 6.3 reported in November 2009, only 1.8 unemployed people were competing for each opening when the recession began.
Total hiring is weak, down from a monthly total of 5 million people in December 2007. Layoffs have risen for the past two months but still are at pre-recession levels.
"It is the lack of hiring that largely accounts for the 'recession feeling' in the job market," says Henry Mo, an economist at Credit Suisse, New York.
The education and health sectors posted 533,000 jobs in July compared with 487,000 in June, and restaurants and hotels posted 310,000 jobs in July compared with 263,000 in June.
Hiring has increased 30 percent since July 2009, when it hit its lowest level on records dating to 2000. Total job openings still remain significantly below the 4.4 million recorded when the recession began in December 2007.
Date : 9/9/2010