Secrets of the Job Hunt


Tuesday, December 09, 2008

Bureau of Labor Statistics Reports 3.1 Million Job Openings

According to a release from the US Bureau of Labor Statistics, on the last business day of October, there were 3.1 million job openings in the United States, and the job openings rate was 2.2 percent.

The job openings rate, while little changed, continued to trend downward. The hires rate decreased slightly to 3.0 percent in October.

Although the month-to-month changes in job openings, hires, and turnover data are often small, the trends over time are notable. The job openings rate has declined for the past 13 months after remaining essentially flat from August 2006 through September 2007.

Over the last 12 months, the job openings rate rose significantly only in the federal government (to 2.5 percent). The rate fell over the year in most industries, including construction; durable goods manufacturing; nondurable goods manufacturing; wholesale trade; transportation, warehousing, and utilities; information; finance and insurance; professional and business services; health care and social assistance; accommodation and food services; other services; and state
and local government. The job openings rate also fell significantly over the year in three of the four regions—Northeast, South, and West.

The hires rate decreased in October to 3.0 percent due to small declines in the rate for several industries. Only accommodation and food services experienced a significant decrease in the hires rate in October; no industry or region experienced a significant increase in the hires rate in October. The hires rate dropped significantly over the past 12 months in three of the four regions—Midwest, South, and West.

The turnover rate ticked upward to 3.1 percent in October, but the change was not statistically significant.

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