US Finally Returns To The Pre-Crisis Levels Of Job Postings

3.4 million jobs were posted in September, the most since August 2008, according to the U.S. Department of labour (via AP).

This three year high is still below the pre-recession level of 4.4 million jobs in December 2007, but the increase in job openings is a positive sign for the nations 14 million unemployed. The job openings rate now sits at around 2.5 per cent.

openings FRED chart sept 2011

Photo: Bureau of labour Statistics

Confidence in the economy is slowly increasing, though it remains to be seen whether the businesses will fill these job openings anytime soon.

In the past year, job openings rose 22 per cent, but hiring only jumped by 10 per cent. And “separations,” otherwise known as getting fired, laid off, or quitting, looks to have pulled even with the percentage of hires at this point.

hires FRED chart sept 2011

Photo: Bureau of labour Statistics

Both charts show a good amount of ebb and flow, so we’ll have to wait a few months to see if a job posting trend — and hopefully, a hiring trend — is truly forming. The same goes for the unemployment rate, which dropped 0.1 per cent to an even nine per cent in October, a six-month low.

But economic uncertainty continues to scare businesses off of large-scale hiring. An average of 4.2 unemployed workers are fighting for the same opening. That’s more than double the two to one ratio economists recommend.

NOW WATCH: Money & Markets videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.