Wednesday, April 13, 2011

Job Openings Reach 2.5 Year High in February

The BLS reported today that private job openings in the U.S. increased to 2,759,000 in February, the highest level since August 2008, almost two and-a-half years ago (see red line above).  Total job openings increased to 3,093,000 in February, which is the highest level since September 2008 (see blue line) and "provides evidence that hiring is picking up as the economy grows," according to the Associated Press:

"A rise in employment advertisements is the latest sign that companies are stepping up hiring. The private sector in March added more than 200,000 jobs for a second straight month, the first time that's happened since 2006. And the unemployment rate fell to 8.8 percent, the lowest level in two years.

Job openings are usually filled within one to three months after posting, which means the report can be an indicator of future hiring activity. If that holds true, April could be another strong month for job growth. The number of jobs advertised has increased by nearly 1 million since they bottomed out in July 2009, a month after the recession ended. But they are still well below the 4.4 million openings that were advertised in December 2007, when the recession began."


At 4/13/2011 1:19 PM, Blogger Benjamin Cole said...

We have a llooooooonnnngggg way to go.
Bernanke, print a lot more money, tip the barrels over, pull out the corks, crank up the music, take crack, do whatever it takes to get the party started.

In a huge porous economy like the USA--we import copious amounts labor, capital, goods and services--we are nearly inflation-proofed.

Set the damn house on fire with jet fuel, it still won't burn down.

Bernanke, please let it rip to the moon.

At 4/13/2011 1:57 PM, Blogger juandos said...

From John Crudele of the New York Post dated April 12: Faux job numbers could lead to real trouble

Early this month Labor reported that 216,000 new jobs were created in March. It was better than Wall Street expected.

But the figure included 117,000 jobs that the department thinks, but can't prove, were created by newly formed companies that might not even exist. In fact, the department is getting so optimistic about the labor market that it increased this imaginary job count from just 81,000 in March, 2010.

At 4/14/2011 10:34 AM, Blogger juandos said...

Well now it seems that there is a blip in the job openings roll...

From CNBC: Jobless Claims Unexpectedly Rise; Inflation Pressure Grows

New claims for unemployment benefits unexpectedly rose last week, bouncing back above the key 400,000 level, while core producer prices climbed faster than expected in March, government reports showed on Thursday. (there's more)

My question is, 'unexpected by who?'...


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