October’s Job Openings Highest In Two Years

Job openings rose to their highest level in two years in October, the bureau of labor statistics reported today.

There were 3.4 million job openings on the last business day of October. In other words, 2.5 percent of all jobs were unfilled.

The quits rate (the number of people voluntarily leaving their jobs, which serves as a benchmark of how good people *perceive* the job market to be) was essentially unchanged at 3.1 percent.

Even with nearly three and a half million open jobs, the unemployment rate remains high, because the jobs aren’t where the unemployed are and they don’t require the skills unemployed people have.

“We look for hiring to pick up to fill vacancies over the coming months as overall economic activity accelerates,” Barclays Capital economist Nicholas Tenev said in a note.

Here, have a graph: