US employers advertise more jobs in October

Published on NewsOK Modified: December 11, 2012 at 1:40 pm •  Published: December 11, 2012
Advertisement
;

Economists were encouraged by the increase because many feared that Superstorm Sandy and business concerns about looming tax increases and spending cuts in the year-end "fiscal cliff" would drag on hiring.

The unemployment rate fell to 7.7 percent, its lowest level in four years, down from 7.9 percent in October. But the drop occurred because more people gave up looking for work. The government only counts people as unemployed if they are actively searching for jobs.

The department said that it could not quantify what impact, if any, Sandy had on October job openings. Sandy made landfall on Oct. 29, closing down businesses and cutting off power, particularly in the Northeast.

Job openings in the Northeast actually rose slightly in October, the department said.

Tuesday's report, known as the Job Openings and Labor Turnover Survey, looked at total hiring, layoffs and quits. The monthly employment report released Friday measures net hiring and unemployment.

| |

Advertisement


Trending Now



AROUND THE WEB

  1. 1
    Tom Cruise secretly dating Laura Prepon
  2. 2
    15 hurt when fire trucks crash; one plows into restaurant
  3. 3
    Meet the sisters saving Spanish horses from slaughter
  4. 4
    News 9: Man accused of child sex crimes during game of truth or dare
  5. 5
    KOCO: Oklahoma City shooting range first to offer bullets, booze
+ show more