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article imageU.S. Labor Department: Job openings drop by 100,000

By Larry Clifton     Nov 6, 2012 in Politics
On Election Day, the Labor Department reports that job openings dropped by 100,000 to 3.56 million, the fewest in five months.
The Tuesday report shows that employers posted fewer job openings in September and suggests hiring will likely remain weak in the months following the election, according to a USA Today report.
The market for jobs is highly competitive because in September, there were 3.4 unemployed people, on average, competing for each open job. In a healthy economy, that ratio is roughly 2-to-1.
In another ominous sign, employers filled fewer available positions in September than in August as the number of people who quit fell to the lowest level in 10 months. That fewer people voluntarily left their jobs is a troubling sign for the job market because it suggests workers see fewer opportunities to advance through job changes. Generally, workers stay put for a lack of better jobs.
The U.S. unemployment rate rose to 7.9% from 7.8% as of last week, according to the Labor Department.
More about US jobs, Job market, Unemployment, Obama, Romney
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