The number of new payrolls was up in October but the number of jobs available was down. This points to the unevenness of the recovery in the jobs market, likely through the end of the year.
This Website Is For Financial Professionals Only
The economy is growing but it is growing too slowly according to some analysts. Businesses want a clearer picture before they will step up and invest in inventories and new jobs.
Businesses are waiting for greater stability in political and fiscal policies before they are willing to take on such confidence measures. But without more job openings, those who have come back to the market to seek employment will have a more difficult time finding work
and may once again become discouraged.
Continued improvement in the employment picture will require the creation of more jobs.
Declines in job openings at professional and business services, and government and manufacturing were responsible for much of the decrease in jobs available.
The September report indicated that there were approximately 3.4 people vying for each job.
This is higher than the 1.8 people per job opening when the recession began in October 2007.