The Labor Department reported that there were more advertised job openings in February than any time in the past two years. This trend is expected to continue throughout April, signaling a positive change in the economy. There were 3.1 million job openings posted in February, an increase of more than 350,000 since January. The outlook is good with the unemployment rate falling to 8.8, the lowest in two years. While there is still fierce competition for open positions, the decrease in unemployment and increase in job openings is evidence that the climate is starting to improve.
What is causing this increase in open jobs? More people are quitting their jobs, presumably to take positions elsewhere. Additionally, layoffs are near the slowest in ten years. Another reason for the increase in open positions is that consumers are starting to gain more confidence in the economy. The increase in retail spending creates more open positions. The increase in confidence can be seen when looking at the 11% increase in sales at Saks Inc and 14% gain from Limited Brands.
Rugaber, Christopher. “Fast Rise in Job Openings Brightens Hiring Outlook.” ABC News (2011): n. pag. Web. 18 Apr 2011. <http://abcnews.go.com/Business/wireStory?id=13368462&page=2>.