US – Job Openings increase to highest level since 2001

Job openings climbed in November to the highest level in almost 14 years as the strengthening U.S. economy fueled demand for labor.

The number of positions waiting to be filled rose by 142,000 to 4.97 million in November, the most since January 2001, a report from the Labor Department showed today. The pace of hiring cooled and fewer Americans quit their jobs.

Gains in hiring, waning dismissals and rising confidence underscore a vibrant labor market that in 2014 marked its strongest performance since 1999. Today’s data, among the gauges watched by Federal Reserve Chair Janet Yellen, will help policy makers assess the progress on employment and growth as they consider when to begin raising interest rates.

“The labor market is in fine shape,” said Brian Jones, a senior U.S. economist at Societe Generale in New York, who projected job openings would climb in November. “There is an increase in openings. Confidence is rising,” as reflected in consumer surveys, he said.

Chosen excerpts by Job Market Monitor. Read the whole story at Job Openings in U.S. Increase to Highest Level Since 2001 – Bloomberg.