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U.S. job openings jump to 11 million in October -Breaking

© Reuters. FILE PHOTO A job ad for a restaurant in Oceanside California (USA), May 10, 2021. REUTERS/Mike Blake/File Photograph

WASHINGTON, (Reuters) – U.S. job opportunities surged in October suggesting that a recent slowdown in growth in the employment market was due to a lack of skilled workers and not ebbing demand.

The Labor Department reported that job openings (a measure of demand for labor) increased by 431,000 to 11.0 Million on the final day of October in its Monthly Job Openings and Labor Turnover Survey. This was Tuesday’s Labor Department report. It was also the highest recorded figure.

Last Friday, the government announced that there was a 210,000 increase in nonfarm payrolls in November. This is the lowest number since December last year, when they rose 546,000. In November, unemployment fell to 4.2% after a dip of 546,000 in October.

John Stonestreet edits

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Mike Robinson
Mike covers the financial, utilities and biotechnology sectors for Street Register. He has been writing about investment and personal finance topics for almost 12 years. Mike has an MBA in Finance from Wake Forest University.