In December, United States employers have reported the most job openings which have never been in nearly the last two decades. This record is evidence that the job market in the United States is strong despite numerous challenges.
According to the Labor Department, the job openings recorded in December were 7.3 million, which is 2.4 percent more when compared to the openings in December 2000. The stats are even far greater than the unemployment number, which was about 6.3 million that month. In the past two months, the businesses have passed off multiple potential difficulties for the economy and kept on employing. The 35-day partial government shutdown weakened the growth in Europe, China, and Japan and also threatens the United States exports. But the employers have still added 304,000 jobs in January which is the most in nearly a year.
The sudden jump in the openings that happened in December points that hiring will likely to remain robust. The flow in available jobs specifies that businesses want demand to remain strong and for that more employees will be needed to meet the expectations. Recent data shows that employers have boosted their hiring in December, whereas the stats for the people who quit their jobs remained unaffected which is about 3.5 million. Higher job quits usually shows the sign of a dynamic job market. As per the government, in January, the average hourly pay rose 3.2 when compared to the previous year. The stated figure is near to 3.3 percent of December’s figure, which shows the best pay gain in almost the last 10 years. Hotels and Restaurants have announced more than 1 million jobs, whereas Health care job numbers rose 79,000 to 1.2 million. Professional and business services, which have jobs in fields such as engineering and architecture has risen 82,000 to 1.34 million. On the other side, jobs in manufacturing and retail and financial services have shown a drop.