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US Job Opportunities Hit a 14 Year All-Time High

US Job Opportunities Hit a 14 Year All-Time High

Jan 20,2015

The astronomical rates at which hiring went on in the U.S. is showing no signs of ceasing. The Labor Department said that the U.S. employers posted maximum number of job openings in 14 year’s time during November. This highlights the fact that businesses want to add onto their existing staff as they are confident that the emerging economy will increase the requirement for their services and goods.

Job opportunities increased 2.9%, totaling 4.97 million in November, which is the maximum rise since January 2001. A greater number of job openings indicate more of recruitment. The employers were initially slow in filling up the vacancies but he trend changed last year, with companies going on a hiring spree. 

According to the National Federation of Independent Business, business owners were creating more jobs than ever since the time recession came to an end in June 2009. This was ratified by chief economist Bill Dunkelberg who said that small business owners were more optimistic about the rising economy which could mean a good year in 2015.

The upsurge in job openings indicates that companies still want to employ people despite its huge addition of jobs in 2014. Lower unemployment rate would also mean increase in pay scale in order to lure the eligible workers. However, the progress in the job sector hasn’t given hourly wages much fillip. This correlation has baffled economists.

The average hourly pay actually dipped in the month of December but the salaries have shown a rise of 1.7% in the last year, which is just a little bit ahead of the rate of inflation (1.3%). A net worth of 250,000 jobs have been created in December, which is the highest since the year 1999. Approximately three million people have received paychecks in 2014. This has resulted in lowering of unemployment rate by 5.6%.

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