Job openings climb up in the US
With the economic recovery slowly progressing, the jobs in the market are headed northward too. As per the data revealed by the Labour Department, the number of job openings in US in January 2010 shot up by 193,000 to 2.72 million. It is the most since February 2009.
The rate of Job opening shot up by 2.1% as against 1. 9% in December 2009. More people got jobs during this time and fewer people lost theirs. In fact, the job losses in the month of January, 2010 were the lowest in the last two years time period. Nonetheless, it will take some more significant time for the labor market of the US economy to compensate the huge loss of 8.4 million jobs in the country.
James O'Sullivan, global chief economist at MF Global Ltd. in New York commented, "The increase in the job openings rate is a positive sign. 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."
It was the Education and health care sector that registered the biggest gain in worker demand. Business services, hotels and restaurants followed the former closely.
