Competition for jobs reaches record level as openings drop amid economic uncertainty
By Christopher S. Rugaber, APTuesday, January 12, 2010
Job openings drop as hiring remains elusive
WASHINGTON — The competition for jobs is intensifying as companies are reluctant to hire new workers, leaving millions of unemployed Americans chasing fewer job openings.
Labor Department data released Tuesday showed there were nearly 6.4 unemployed workers, on average, for each available job at the end of November. That’s up from 6.1 in October and a record high.
There were 1.7 jobless people for each opening in December 2007, when the recession began.
The Job Openings and Labor Turnover survey says job openings fell sharply to 2.42 million in November from 2.57 million in October.
That is the lowest number of job openings since July 2009 and the second-lowest since the department began tracking the data in 2000. It’s also about half the peak level of 4.8 million, reached in June 2007.