Job openings in the U.S. climbed in October to the second highest level in almost 14 years as employers looked for staff to contend with strengthening demand.
The number of positions waiting to be filled rose by 149,000 to 4.83 million from a revised 4.69 million in September, the Labor Department reported today in Washington. Other aspects of the report, including, hiring, firing and quits, were little changed.
Vacancies are increasing as companies, running lean from recession-era job cutting, seek to boost headcount amid accelerating growth in the world’s largest economy. Continued improvements in the labor market will be needed to carry that momentum into next year and help assure Federal Reserve policy makers that the economy can withstand the first interest-rate increase since 2006.
“The labor market is in good shape heading into year- end,” Guy Berger, a U.S. economist at RBS Securities Inc. in Stamford, Connecticut, said before the report. “There’s no sign whatsoever that it’s slowing down in any fundamental way.”