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Job openings jump 14 percent in October

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SoldAtTheTop / The Paper Economy

(Read caption) This graph shows private job openings (excluding farm laborers) over the past decade (red line, left axis) and total unemployment (U6, including the underemployed and those no longer seeking work – blue line, right axis). October's 14 point jump in job openings wasn't matched by a drop in unemployment, but is a strong indicator of a recovering economy.

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Today, the Bureau of Labor Statistics released their latest monthly read of job availability and labor turnover (JOLT) showing that private non-farm job “openings” jumped 13.88% since September rising 39.88% above the level seen in October 2009 while job “hires” declined 0.61% since September but remained 6.51% above the level seen in October 2009 and job “layoffs and discharges” dropped 0.25% since September and dropping 17.86% below the level seen last year.

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