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Business Title: Job Openings in U.S. Climb for Second Month as Employers Gain Confidence March 9 (Bloomberg) -- Job openings in the U.S. rose in January to the highest level in almost a year, signaling employers are gaining confidence as the economic recovery takes hold. Openings increased by 193,000 to 2.72 million, the most since February 2009, the Labor Department said today in Washington. More people were hired and the number of workers fired decreased to the lowest level in almost two years, the report also showed. The figures indicate that the world’s largest economy, which expanded in the second half of 2009, is poised to add workers after payrolls dropped less than anticipated last month. Nonetheless, the labor market will take time to overcome the loss of 8.4 million jobs since the beginning of the recession in December 2007. “The increase in the job openings rate is a positive sign,” said James O’Sullivan, global chief economist at MF Global Ltd. in New York. “We’re at the point now where job growth is turning positive. The labor market is improving, but it’s got a long way to go.” The rate of job openings in January climbed to 2.1 percent from 1.9 percent the prior month, according to today’s report. Education and health care showed the biggest gain in worker demand followed by business services and hotels and restaurants. Vying for Jobs Compared with the 14.8 million Americans who were unemployed in January, the figures indicate there are more than 5 people vying for every opening, up from about 1.8 when the recession began in December 2007. The report helps shed light on the dynamics behind the monthly employment figures. Payrolls fell by 36,000 last month after a 26,000 decline in January, according to Labor Department figures released on March 5. The unemployment rate unexpectedly held at 9.7 percent and has not increased since October. The recent slowdown in payroll losses from earlier in 2009 reflects both a pickup in hiring and a decrease in dismissals. Employers took on 4.08 million workers in January, 83,000 more than in the previous month. Firings, which exclude those who left their jobs voluntarily and retirements, dropped to 1.89 million in January, the fewest since April 2008. Some companies are still trimming payrolls. American Airlines, the world’s second-largest carrier, said last week that it will eliminate jobs for 230 baggage handlers, ramp workers and cargo employees nationwide. The reductions at American, a unit of AMR Corp., will begin March 13, spokeswoman Missy Latham said in an interview. Other businesses plan to resume hiring. Accenture Plc, the world’s second-largest technology-services provider, plans to boost payrolls by about 50,000, with as many as 9,000 jobs being added in the U.S. by the end of August. “We are seeing a very broad uplift globally” in demand, John Campagnino, director of worldwide recruiting, said in a March 3 interview. He said the trend “brings us right back to the pre-recession” levels.
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#1. To: Brian S (#0)
Good news. Let's hope it continues.
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