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Title: Job Openings in U.S. Decreased 163,000 in September, Second Straight Drop
Source:
Bloomberg
URL Source: http://noir.bloomberg.com/apps/news ... 0601087&sid=agdcur6FptW0&pos=6
Published: Nov 9, 2010
Author: By Shobhana Chandra
Post Date: 2010-11-09 11:18:21 by Brian S
Keywords: None
Views: 4216
Comments: 7
By Shobhana Chandra Nov. 9 (Bloomberg) -- Job openings in the U.S. dropped in September for a second month, signaling a sustained labor market rebound will take time to develop, a government report showed. Openings decreased by 163,000 to 2.93 million, the Labor Department said today in Washington. The number of people hired rose from the prior month and separations declined. The unemployment rate was 9.6 percent for a third month in October even as payrolls increased 151,000, Labor Department figures showed last week. Growth in the world’s largest economy may need to quicken before enough jobs are created to make up for the recession-driven loss of more than 8 million positions. “The labor market will be weak for many years,” Paul Dales, a U.S. economist at Capital Economics Ltd. in Toronto, said before the report. “We won’t see strong, sustained growth for a while. The unemployment rate will stay at high levels.” Openings fell 5.3 percent in September from a revised 3.09 million in the prior month that was smaller than previously estimated. The rate of job openings fell to 2.2 percent from 2.3 percent, according to today’s report. Leisure and hospitality and professional and business services accounted for the biggest decreases in available employment, while manufacturing, education and construction increased. Compared with the 14.8 million Americans who were unemployed in September, today’s figures indicate there are 5 people vying for every opening, up from about 1.8 when the recession began in December 2007. October Payrolls The report helps shed light on the dynamics behind the monthly employment figures. Private payrolls, which exclude government positions, rose by 159,000 workers in October, more than forecast and the most since April, Labor Department figures showed on Nov. 5. Employers took on 4.19 million workers in September, up 34,000 from the previous month, according to today’s report. Total firings, which exclude retirements and those who left their jobs voluntarily, dropped to 1.79 million from 1.86 million a month before. Government agencies dismissed 203,000, which includes the cuts related to the census. In the 12 months ended in September, the economy gained 300,000 jobs, representing 50.2 million separations compared with 50.5 million hires, today’s report showed. Federal Reserve policy makers last week announced a second round of large-scale asset purchases in a bid to spur economic growth and help reduce unemployment. Holiday Hiring The job market may get a boost through year’s end as retailers take on more workers for the holiday shopping season starting this month. Department store chain Kohl’s Corp. plans to hire about 40,000 people for the holiday period, 21 percent more than last year. Toys “R” Us Inc. said it may add about 45,000 employees for the season, including 10,000 at its temporary stores. Others are starting to plan ahead. Ford Motor Co., the second-largest U.S. automaker, plans to add 1,200 jobs in Michigan by 2013 as sales rebound.
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#1. To: Brian S (#0)
the Stock market is down the last few days as well, business leaders are starting to realize the damage tha the GOP will do to the country next year.
So how does 163K translate to 151K unemployment.
Business leaders are starting to realize the damage Obama and his inept administration have inflicted upon the economic structure and economy of this nation.
Have you looked at the DJIA since Obama took office?
Yes and I've looked at the price of precious metals, commodities, unemployment figures and foreclosures. What do they indicate to you?
We still have a lot of work to do to fix the destruction of the Bush years.
2 years of a loser like Obama and 4 years of a majority liberal house and senate are going to be difficult to overcome, even with the strides made by conservatives Nov. 3.
Nov. 9 (Bloomberg) -- Job openings in the U.S. dropped in September for a second month, signaling a sustained labor market rebound will take time to develop, a government report showed.
On January 3, 2011 the GOP assumes responsibility for deficit spending.
#2. To: Brian S (#0)
Nov. 9 (Bloomberg) -- Job openings in the U.S. dropped in September for a second month, signaling a sustained labor market rebound will take time to develop, a government report showed.
#3. To: go65 (#1)
business leaders are starting to realize the damage
#4. To: Ibluafartsky (#3)
Business leaders are starting to realize the damage Obama and his inept administration have inflicted upon the economic structure and economy of this nation.
On January 3, 2011 the GOP assumes responsibility for deficit spending.
#5. To: go65 (#4)
Have you looked at the DJIA since Obama took office?
#6. To: Ibluafartsky (#5)
Yes and I've looked at the price of precious metals, commodities, unemployment figures and foreclosures. What do they indicate to you?
On January 3, 2011 the GOP assumes responsibility for deficit spending.
#7. To: go65 (#6)
We still have a lot of work to do
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