WASHINGTON — 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 record dating 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 increasing their efforts to fill open positions. The number of available jobs has risen 21 percent in the past 12 months, while hiring is up 12 percent. That gap has narrowed significantly this year.
More people quitting and growth in hiring can help up drive up wages, which have barely kept up with inflation since the recession ended.
The data come after Friday’s surprisingly strong jobs report. Employers added a net total of 321,000 jobs in November, the most in nearly three years. Job gains have averaged 241,000 jobs a month this year, the healthiest pace in 15 years.
