New Job Creation Rate Changed Little In Oct: Report

The US Department of Labour announced that the number of job openings and hirings across the country were only a little changed in October.

On the last business day of October, the number and rate of job openings were little changed at 6.7 million and 4.5 per cent, respectively, Xinhua news agency quoted the Department as saying in its announcement on Wednesday.

The number of job openings in October decreased over the year to 7.1 million, reflecting the continued impact of the raging Covid-19 pandemic on the labour market.

Job openings decreased in a number of industries with the largest decreases in retail trade, accommodation and food services, and finance and insurance.

The number and rate of hires in October were little changed at 5.8 million and 4.1 per cent, respectively.

Meanwhile, hirings increased in a number of industries over the year, with the largest surges in transportation, warehousing, and utilities and in durable goods manufacturing.

Over the month, the number of total separations increased to 5.1 million and the total separations rate was little changed at 3.6 per cent.

Over the 12 months ending in October, hirings totalled 70.4 million and separations totalled 76.1 million, yielding a net employment loss of 5.7 million.

These totals include workers who may have been hired and separated more than once during the year.

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