Job openings in construction, manufacturing, the leisure and hospitality industry and retailers contributed to the pickup in available employment. Openings in education and health services cooled.
Considering the 12.26 million Americans who were unemployed in October, today’s figures indicate there are about 3.3 people vying for every opening, up from about 1.8 when the recession began in December 2007.
October Firings
Total firings, which exclude retirements and those who left their job voluntarily, decreased to 1.66 million from 1.73 million a month before.
About another 2.07 million people quit their jobs in October, up from 1.96 million in the prior month. That drove the total separations rate up to 3.1 percent.
In the 12 months ended in October, the economy created a net 1.9 million jobs, representing 51.7 million hires and about 49.8 million separations.
Companies reducing staff include Citigroup Inc. The New York-based bank announced on Dec. 5 that it will cut more than 11,000 jobs and pull back from some emerging markets to drive down costs as revenue dries up.
Employment in November may have gotten a lift as businesses stepped up hiring for the holidays. Macy’s Inc., the second-biggest U.S. department-store chain, said it would add about 2,000 more seasonal workers than the 78,000 it hired last year. Toys ‘R’ Us Inc., the world’s largest toy retailer, reported plans to employ 45,000 temporary staff, up 5,000 from the 2011 season.