Employment News
The Labor Department reported Tuesday that there were 2.9 million advertised job openings at the end of September, which is a 5.3 percent drop from the previous month.
According to the Job Openings and Labor Turnover Survey, there were 163,000 fewer job openings in September than in August. The Associated Press said the news is a sign that hiring is likely to remain weak over the next several months because the economy needs to add at least 100,000 jobs per month just to keep up with population growth.
The Labor Department said there was an average of five unemployed people for each available job in September. When the recession began, there were just 1.8 unemployed workers for each job opening, the AP said.
The biggest drop in job openings came in the professional and business services sectors, which the AP notes includes temp workers and hotel and restaurant workers.
The lone bright spot was the fact layoffs in the private sector fell for the second straight month and is at its lowest level in four years.
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